<SEC-DOCUMENT>0001292814-19-002075.txt : 20190530
<SEC-HEADER>0001292814-19-002075.hdr.sgml : 20190530
<ACCEPTANCE-DATETIME>20190530161512
ACCESSION NUMBER:		0001292814-19-002075
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20190331
FILED AS OF DATE:		20190530
DATE AS OF CHANGE:		20190530

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:		19866720

	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>sidfs1q19_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>

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   <TITLE>sidfs1q19_6k.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<DIV><FONT size=1></FONT>&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><FONT size=1></FONT>&nbsp;</DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

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

<DIV><FONT size=1></FONT>&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><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center>

<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of May, 2019</B></FONT></DIV><FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1-14732 </B></FONT></DIV>

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<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><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center></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><FONT size=1></FONT>&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><FONT size=1></FONT>&nbsp;</DIV>

<P></P>

<P></P>

<P></P>

<P></P>

<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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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE></DIV></FONT></B></H1>

<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B>&nbsp;</H1>

<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Table of Contents</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

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   <TD style="BORDER-TOP: #bfbfbf 1pt solid; HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Company Information</FONT></B></P></TD>

   <TD style="BORDER-TOP: #bfbfbf 1pt solid; HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="MARGIN: 6pt 0in 3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Capital Breakdown</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>1</FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Parent Company Financial Statements </FONT></B></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Balance Sheet &#8211; Assets</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Balance Sheet &#8211; Liabilities</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>3</FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Income</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>4</FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Comprehensive Income</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>5</FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Cash Flows</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>6</FONT></P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Changes in Shareholders&#8217; Equity</FONT></B></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>7</FONT></P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>8</FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Value Added</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>9</FONT></P></TD></TR>

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   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Consolidated Financial Statements</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Balance Sheet - Assets</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>10</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Balance Sheet - Liabilities</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>11</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Income</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>12</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Comprehensive Income</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>13</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Cash Flows</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>14</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Changes in Shareholders&#8217; Equity</FONT></B></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>15</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 6pt 0in 3pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 6pt 0in 3pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Statement of Value Added</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>17</FONT></P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Comments on the Company&#8217;s Consolidated Performance</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>18</FONT></P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Notes to the quarterly financial information</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>31</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Comments on the Performance of Business Projections</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>83</FONT></P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Reports and Statements</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Unqualified Independent Auditors&#8217; Review Report</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>87</FONT></P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Officers Statement on the Financial Statements</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>89</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="88%">

   <P style="MARGIN: 6pt 0in 3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Officers Statement on Auditor&#8217;s Report</FONT></P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>90</FONT></P></TD></TR></TABLE></DIV></DIV>

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<TR>

   <TD width="100%" colSpan=2>

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

<TR>

   <TD width="50%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=white face="trebuchet ms,sans-serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Company Information / Capital Breakdown</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

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<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Number of Shares</FONT></B></P>

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Units)</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Paid-in Capital</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Common</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>1,387,524,047</FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Preferred</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>1,387,524,047</FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Treasury Shares</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Common</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>7,409,500</FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Preferred</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 14.2pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>7,409,500</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 1</FONT></P></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Parent Company Financial Statements / Balance Sheet - Assets</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current Quarter </FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Previous Year</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 15.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 15.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total Assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>43,837,828</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>42,515,849</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,060,067</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,668,688</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.01</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash and cash equivalent</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>293,986</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>539,853</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.02</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial investments</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>775,068</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>882,997</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.02.03</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial investments at amortized cost</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>775,068</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>882,997</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.03</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade receivables</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,235,789</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,965,817</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.04</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Inventory</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,034,457</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,662,466</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.08</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other current assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,720,767</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,617,555</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.08.03</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,720,767</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,617,555</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-current assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>34,777,761</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>33,847,161</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.01</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Long-term assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,101,910</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,002,570</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.01.10</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other non-current assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,101,910</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,002,570</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.02</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Investments </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>21,010,134</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>20,232,005</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.03</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,618,041</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,562,973</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.03.01</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Property, plant and equipment in operation</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,562,435</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9.562.973</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.03.02</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Right of use in progress</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>55,606</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.04</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>47,676</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>49,613</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 2</FONT></P></FONT></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Parent Company Financial Statements / Balance Sheet &#8211; Liabilities</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="48%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current Quarter </FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Previous Year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>43,837,828</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>42,515,849</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11,096,854</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11,191,230</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Payroll and related taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>139,767</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>135,255</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,536,172</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,655,091</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Tax payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>50,558</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>116,336</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6,214,189</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6,474,388</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,092,329</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,745,304</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,092,329</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,745,304</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Dividends and interests on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>900,541</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>900,541</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05.02.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Advances from clients</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>75,843</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>64,416</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05.02.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables &#8211; Drawee risk</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>300,947</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>65,766</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05.02.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>20,453</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05.02.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other obligations</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>794,545</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>714,581</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>63,839</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>64,856</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.06.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for tax, social security, labor and civil risks</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>63,839</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>64,856</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>23,895,628</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>22,621,884</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Long term Borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>18,850,065</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>17,687,208</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>44,703</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>24,024</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>44,703</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>24,024</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>35,271</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other obligations</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,432</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>24,024</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Deferred Taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>62,690</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>17,434</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,938,170</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,893,218</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for tax, social security, labor and civil risks</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>469,665</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>538,077</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,468,505</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,355,141</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for environmental liabilities and decommissioning of assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>186,726</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>191,884</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Pension and healthcare plan</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>905,119</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>905,119</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.02.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for losses on investments</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,376,660</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,258,138</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,845,346</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,702,735</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Share Capital</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Capital reserves</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>32,720 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit reserves</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,064,827</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Legal reserve</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>189,122 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>189,122</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Earnings reserves</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,933,969</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,933,969 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(58,264)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(58,264)</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Accumulated profit/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,215,371</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,065,188</FONT></P></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 3</FONT></P></DIV>

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   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

<TR>

   <TD width="50%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Parent Company Financial Statements / </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Statements of Income&nbsp; </FONT></B></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>YTD previous year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 30.5pt">

   <TD style="HEIGHT: 30.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 30.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 30.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 30.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Revenues from sale of goods and rendering of services</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,021,217</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,028,977 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Costs from sale of goods and rendering of services</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(2,833,088) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(2,337,373) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>188,129</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;691,604 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Operating expenses/income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>308,308</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,632,771 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(120,144) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(154,662) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(56,117) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(73,543) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>219,694</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,938,914 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating expenses</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(284,595) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(103,815) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Equity in results of affiliated companies</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>549,470</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;25,877 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit before financial income (expenses) and taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>496,437</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;2,324,375 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial income (expenses)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(458,764) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(392,862) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>101,370</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30,326 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial expenses</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(560,134) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(423,188) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net exchange differences over financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(72,099) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,996) </FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.02.02</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial expenses</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(488,035) </FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(421,192) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) before taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>37,673</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,931,513 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Income tax and social contribution </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(45,245) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(459,650) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) from continued operations</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.11</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) for the year</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Earnings per share &#8211; (Reais / Share)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Basic earnings per share</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Common shares</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(0.00551)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.08454</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Diluted earnings per share</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Common shares</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(0.00551)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.08454&nbsp; </FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="73%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Parent Company Statements / Statement of Comprehensive Income (R$ thousand)</FONT></B></P></TD>

   <TD style="HEIGHT: 30pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 30pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 30pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">&nbsp;</TD>

   <TD style="HEIGHT: 30pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

   <TD style="HEIGHT: 30pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>YTD previous year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 30pt">

   <TD style="HEIGHT: 30pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 30pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.01</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>(Loss) profit for the year</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150,183 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,531,466) </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.01</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Actuarial (loss) /gain over pension plan of affiliates, net of taxes</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>30</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>30 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.02</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cumulative translation adjustments for the year</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(21,804)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>37,958 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.03</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Fair value through other comprehensive income</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,559,680) </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.04</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gain (loss) on cash flow hedge accounting</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(18,440)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(18,646) </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.05</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Realization of cash flow hedge accounting reclassified to income statement</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>184,217 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>13,732 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.06</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gain (Loss) on net investment hedge from investments in affiliates</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,180 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,860) </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.03</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Comprehensive income for the year</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>142,611 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(59,603) </FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Parent Company Financial Statements / Statements of Cash Flows &#8211; Indirect Method (R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">&nbsp;</TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">&nbsp;</TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>YTD previous year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net cash from operating activities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(948,165)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;4,361,055 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash from operations</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>82,028</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;582,035 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) for the period</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial charges in borrowing and financing raised</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>349,039</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;383,382 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial charges in borrowing and financing granted</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(12,414) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(9,680) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Depreciation, depletion and amortization</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>158,007</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;142,547 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Equity in results of affiliated companies</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(549,470) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(25,877) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Deferred tax</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>45,256</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;459,650 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for tax, social security, labor, civil and environmental risks</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(69,429)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,946 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Exchange differences, net</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>261,128</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30,811 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Write-off and net reversal losses&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>13,542</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;16 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.10</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for environmental liabilities and decommissioning of assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(5,158) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(6,389) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.11</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Shares classified as fair value through profit or loss</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(127,653) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,936,389) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.12</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Charges on lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>965</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.13</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision (Reversal) for consumption and services</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>19,504</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>62,285 &nbsp;</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.14</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Eletrobr&#225;s monetary correction</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,715</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.15</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>7,998</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5,870</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Changes in assets and liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,030,193)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,779,020 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade receivables - third parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>16,862</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,037 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade receivables - related parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(275,407) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(70,816) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(371,991) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(185,409) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Receivables - related parties/Dividends</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(635)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;4,141,385 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Tax assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(54,342) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(53,572) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Judicial deposits</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(11,405) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(12,502) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(118,919)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;374,701 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.10</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables &#8211; Drawee risk</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>235,181 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>36.831</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.11</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Payroll and related taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,512</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(11,908) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.12</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Taxes in installments &#8211; REFIS</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(65,858) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;24,933 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.13</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Payables to related parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(6,136)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(11,489) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.15</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest paid</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(368,593)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(462,122) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.16</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest received </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,522 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.19</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(13,462)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,429 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net cash used in investing activities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(104,805) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(86,620) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Investments/Advance for future capital increase</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,847) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(10,033) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Purchase of property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(158,189) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(77,246) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Intercompany loans granted</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(49,698) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(36,362) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Intercompany loans received&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;8,429 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial Investments, net of redemption</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>107,929 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(10,785) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash received from the sale of Usiminas shares</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;39,377 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net cash used in financing activities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>807,103 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3,746,350) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,246,890</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Borrowings and financing &#8211; related parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,581,639</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Transaction Costs</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(28,810) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(24,025) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Amortization of borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(2,763,750) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(440,899) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Amortization of borrowings and financing - related parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(222,553) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3,281,426) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Amortization of leases</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(6,313)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0&nbsp;&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Increase (decrease) in cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(245,867)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>528,085 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.05.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash and equivalents at the beginning of the year</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>539,853</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>393,504 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.05.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash and equivalents at the end of the year</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>293,986</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>921,589 </FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<DIV align=left>

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<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=8>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Parent Company Financial Statements / Statement of Changes in Equity - 01/01/2019 to 03/31/2019</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=8>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 51.75pt">

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Paid-in capital</FONT></B></P></TD>

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Capital reserve granted options and treasury shares</FONT></B></P></TD>

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Earnings reserve</FONT></B></P></TD>

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Retained earnings (accumulated losses)</FONT></B></P></TD>

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 51.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Shareholders' equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Opening balances</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,065,188</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,702,735</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Adjusted opening balances</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,065,188</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,702,735</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>150,183</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>142,611</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Profit (loss) for the period</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>150,183</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>150,183</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Translation adjustments for the year</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(21,804)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(21,804)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Actuarial gains/(Losses) on pension plan, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>30</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on cash flow hedge accounting, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>165,777</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>165,777</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on foreign investments </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>6,180</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>6,180</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Closing balance</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,215,371</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>8,845,346</FONT></P></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 7</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Parent Company Financial Statements / Statement of Changes in Equity - 01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Paid-in capital</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Capital reserve granted options and treasury shares</FONT></B></P></TD>

   <TD style="HEIGHT: 48.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Earnings reserve</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Retained earnings (accumulated losses)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Shareholders' equity</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Opening balances</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(1,291,689)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,779,032</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7,027,373</FONT></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Adjusted opening balances</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(1,291,689)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,779,032</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7,027,373</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total comprehensive income</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>1,471,863</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(1,531,466)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(59,603)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Profit (loss) for the period</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>1,471,863</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,471,863</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(1,531,466)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(1,531,466)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Translation adjustments for the year</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>37,958</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>37,958</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Actuarial gains/(Losses) on pension plan, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>30</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Available-for-sale assets, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(1,559,680)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(1,559,680)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on cash flow hedge accounting, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(4,914)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(4,914)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on foreign investments</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(4,860)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(4,860)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Closing balance</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>180,174</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2,247,566</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>6,967,770</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 8</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Parent Company Financial Statements / Statement of Value Added</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Previous year</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Revenues</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3.901.138</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;5,679,845 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.01.01</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Sales of products and rendering of services</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3.751.792</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,750,436 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.01.02</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other revenues</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>127.754</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;1,936,419 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.01.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Allowance for (reversal of) doubtful accounts</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>21.592 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,010) </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.02</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Raw materials acquired from third parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(3,373,861) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(2,716,816) </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.02.01</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Cost of sales and services</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(3,060,346) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(2,433,300) </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.02.02</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Materials, electric power, outsourcing and other</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(304,580) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(285,278) </FONT></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.02.03</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Impairment/recovery of assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8,935)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;1,762 </FONT></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Gross value added</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>527.277</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;2,963,029 </FONT></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Retentions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(158,007) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(142,547) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.04.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Depreciation, amortization and depletion</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(158,007) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(142,547) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Wealth created</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>369,270</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;2,820,482 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Value added received</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>657,660</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;84,720 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.06.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Equity in results of affiliated companies</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>549,470</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>25,877 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.06.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Financial income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>101,370</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;30,326 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.06.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6,820</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;28,517 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.06.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Others and exchange gains</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6,820</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;28,517 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Wealth for distribution</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,026,930</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;2,905,202 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Wealth distributed</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,026,930</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;2,905,202 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Personnel</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>347,839</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;298,847 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Salaries and wages</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>241,697</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;220,044 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Benefits</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>70,631</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;62,275 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Severance payment (FGTS) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>35,511</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;16,528 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Taxes, fees and contributions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>119,424</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;680,901 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Federal</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>60,064</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;604,936 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>State</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>59,360</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;75,962 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Municipal</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;3 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Remuneration on third-party capital</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>567,239</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>453,591 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Interest</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>488,035</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;421,192 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Leases</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,030</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;2,212 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.03.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>78,174</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;30,187 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.03.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Others and exchange losses</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>78,174</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;30,187 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Remuneration on Shareholders' capital</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>7.08.04.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Retained earnings (accumulated losses)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 9</FONT></P></DIV>

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   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

<TR>

   <TD width="50%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Consolidated Financial Statements / Balance Sheet - Assets</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="70%" colSpan=2>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current Quarter </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Previous Year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total Assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>49,952,506</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>47,327,524</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13,825,742</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12,014,483</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash and cash equivalent</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,702,077</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,248,004</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial investments</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>778,608</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>895,713</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial investments measured at amortized cost</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>778,608</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>895,713</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade receivables</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,835,396</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,078,182</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.04</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Inventory</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,665,830</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,039,560</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.08</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other current assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,843,831</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,753,024</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.01.08.03</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,843,831</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,753,024</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-current assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>36,126,764</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>35,313,041</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Long-term assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,419,990</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,382,389 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial investments measured at amortized cost</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7,829</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7,772</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.01.07</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>69,465</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>89,394</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.01.10</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other non-current assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,342,696</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,285,223</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Investments</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,791,267</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,630,613</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>18,682,759</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>18,046,864</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.02.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Property, plant and equipment in operation</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>18,052,983</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>18.046.864</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.02.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Right of use in progress</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>629,776</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>1.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7,232,748</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7,253,175</FONT></P></TD></TR>

<TR>

   <TD width="17%">&nbsp;</TD>

   <TD width="57%">&nbsp;</TD>

   <TD width="13%">&nbsp;</TD>

   <TD width="12%">&nbsp;</TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 10</FONT></P></DIV>

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   <TD width="100%" colSpan=2>

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

<TR>

   <TD width="50%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Consolidated Financial Statements / Balance Sheet &#8211; Liabilities</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="45%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current Quarter </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Previous Year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Total liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>49,952,506</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp; 47,327,524</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12,077,635</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp; 11,438,552</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Payroll and related taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>261,717</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248,185</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,228,213</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 3,408,056</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Tax payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>535,681</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251,746</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,415,138</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 5,653,439</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,530,746</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,770,623</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.01.05.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,530,746</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,770,623</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.01.05.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Dividends and interests on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>932,005</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>932,005</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.01.05.02.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Advances from clients</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>563,002</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>137,418</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.01.05.02.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables &#8211; Drawee risk</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>300,947</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>65,766</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.01.05.02.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>45,742</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.01.05.02.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>689,050</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>635,434</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>106,140</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106,503</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.01.06.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for tax, social security, labor and civil risks</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>106,140</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>106,503</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>27,624,483</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp; 25,875,532</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Long term Borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>22,887,556</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>23,173,635</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,259,172</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>227,328</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,259,172</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>227,328</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Advances from clients</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,469,166</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>587,496</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.02.02.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>202,510</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227,328</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Deferred tax liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>667,907</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 601,731</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,809,848</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,872,838</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for tax, social security, labor and civil risks</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>615,371</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>685,953</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other provisions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,194,477</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,186,885</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for environmental liabilities and decommissioning of assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>289,358</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>281,766</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.02.04.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Pension and healthcare plan</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>905,119</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>905,119</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Consolidated Shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,250,388</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,013,440</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Share Capital</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,540,000</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Capital reserves</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>32,720</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit reserves</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,064,827</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Legal reserve</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>189,122</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>189,122</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Earnings reserves</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,933,969</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,933,969</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.04.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(58,264)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(58,264)</FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif> </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Accumulated profit/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,215,371</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,065,188</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.03.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit attributable to the non-controlling interests</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,405,042</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,310,705</FONT></P></TD></TR>

<TR>

   <TD width="15%">&nbsp;</TD>

   <TD width="45%">&nbsp;</TD>

   <TD width="22%">&nbsp;</TD>

   <TD width="17%">&nbsp;</TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

<TR>

   <TD width="50%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 26.35pt">

   <TD style="HEIGHT: 26.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Consolidated Financial Statements / </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Statements of Income&nbsp; </FONT></B></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 26.35pt">

   <TD style="HEIGHT: 26.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 26.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 26.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

   <TD style="HEIGHT: 26.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>YTD previous year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 26.35pt">

   <TD style="HEIGHT: 26.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 26.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 26.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 26.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Revenues from sale of goods and rendering of services</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,005,466</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5,065,950 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.02</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Costs from sale of goods and rendering of services</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,021,495) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3,684,743) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.03</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross profit</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,983,971</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,381,207 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Operating expenses/income</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(803,252)</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,257,703 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(573,484) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(456,503) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.02</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(120,181) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(107,573) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.04</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating income</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>228,952</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,945,587 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.05</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other operating expenses</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(364,372) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(148,659) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.04.06</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Equity in results of affiliated companies</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>25,833</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>24,851 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.05</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit before financial income (expenses) and taxes</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,180,719</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,638,910 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial income (expenses)</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(635,099) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(593,704) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial income</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>111,314</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;42,896 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.02</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial expenses</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(746,413) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(636,600) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.02.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net exchange differences over financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(113,564) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(113,344) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.06.02.02</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial expenses</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(632,849) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(523,256) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.07</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) before taxes</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>545,620</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;2,045,206 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.08</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Income tax and social contribution </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(458,857) </FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(558,711) </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.09</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) from continued operations</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>86,763</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,486,495 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.11</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Consolidated Profit (loss) for the year</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>86,763</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,486,495 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.11.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit attributable to the controlling interests</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.11.02</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit attributable to the non-controlling interests</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>94,335</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14,632 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Basic earnings per share</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.01.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Common shares</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(0.00551)</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.08454</FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.02</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Diluted earnings per share</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.99.02.01</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Common shares</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(0.00551)</FONT></P></TD>

   <TD style="HEIGHT: 13.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.08454</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 12</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 43.4pt">

   <TD style="HEIGHT: 43.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Consolidated Financial Statements / Statement of Comprehensive Income </FONT></B></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 43.4pt">

   <TD style="HEIGHT: 43.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 43.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">&nbsp;</TD>

   <TD style="HEIGHT: 43.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

   <TD style="HEIGHT: 43.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>YTD previous year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 11.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 11.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 11.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.01</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Consolidated profit (loss) for the year</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>86,763</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,486,495 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150,183 </FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,531,466) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.01</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Actuarial gains over pension plan of affiliates, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>30 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.02</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cumulative translation adjustments for the year</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(21,804)</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>37,958 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.03</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Fair value through other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,559,680) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.04</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gain (loss) on cash flow hedge accounting</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(18,440)</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(18,646) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.05</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Realization of cash flow hedge accounting reclassified to income statement</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>184,217</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>13,732 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.02.06</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gain (Loss) on hedge of net investment in foreign operations. </FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>6,180</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,860) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.03</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Consolidated comprehensive income for the year</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>236,946</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(44,971) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.03.01</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Attributed to controlling Shareholders</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>142,611</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(59,603) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.75pt">

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.03.02</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Attributed to non-controlling Shareholders</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>94,335</FONT></P></TD>

   <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14,632 </FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Consolidated Financial Statements / Statements of Cash Flows &#8211; Indirect Method</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 34.1pt">

   <TD style="HEIGHT: 34.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 34.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">&nbsp;</TD>

   <TD style="HEIGHT: 34.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

   <TD style="HEIGHT: 34.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>YTD previous year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 25.5pt">

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net cash from operating activities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,185,970</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>459,217 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash from operations</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,018,203</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>863,868 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) attributable to the controlling interests</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Profit (loss) attributable to the non-controlling interests</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>94,335</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14,632 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial charges in borrowing and financing raised</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>465,928</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>462,685 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial charges in borrowing and financing granted</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(13,946)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(11,175) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Depreciation, depletion and amortization</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>328,070</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;315,872 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Equity in in results of affiliated companies</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(25,833)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(24,851) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Deferred tax</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>89,039</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;438,797 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for tax, social security, labor, civil and environmental risks</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(69,853)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,046 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Monetary variations and Exchange differences, net</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>241,297</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;51,488 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.11</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Shares classified as fair value through profit or loss</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(127,653) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,936,389) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.12</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Write-off and net reversal losses&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>13,712</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,780 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.13</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision (Reversal) for consumption and services</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8,853</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>41,533</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.14</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Provision for environmental liabilities and decommissioning of assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>7,592</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3,270) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.15</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Charges on lease liabilities </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>4,957</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.16</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Eletrobr&#225;s monetary correction</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,715)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.01.17</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>10,992</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;39,857 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Changes in assets and liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>167,767</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(404,651) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade receivables - third parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(713,057)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;112,946 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade receivables - related parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(92,283) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(24,304) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(653,465) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(420,862) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Receivables - related parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>447 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(10,408) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Tax assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(41,211) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,156) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Judicial deposits</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(11,569) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(12,443) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(170,461)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>510,034</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Trade payables &#8211; Drawee risk</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>235,181</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>36,831</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.10</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Payroll and related taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14,014 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(19,827) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.11</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Taxes in installments &#8211; REFIS</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>282,973</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,673 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.12</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Payables to related parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(30,173)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.553 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.13</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Adiantamento de clientes min&#233;rio de ferro</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,935,831</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.14</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest paid</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(590,621) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(617,864) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.01.02.16</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,161</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>38,176</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net cash used in investing activities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(220,750) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(213,570) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Purchase of property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(313,530) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(223,270) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Acquisition of intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(49)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Receivable/(payable) from derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>372</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0&nbsp;&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Intercompany loans granted</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(40,643) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(36,362) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Intercompany loans received&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>16,796</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;-&nbsp;&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.09</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial Investments, net of redemption</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>117,048</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,685 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.02.10</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash received from the sale of Usiminas shares</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>39,377 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Net cash used in financing activities</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(514,817) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,423,065) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Borrowings and financing raised</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,465,845</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,320,776 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Transaction cost</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(28,810) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(51,156) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Amortization of borrowings and financing </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(2,939,145)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(2,190,683) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Dividends paid</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(502,002)&nbsp;&nbsp;&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.03.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Amortization of lease</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(12,707)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Exchange rate on translating cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,670</FONT><FONT style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Increase (decrease) in cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>454,073 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,177,418)&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.05.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash and equivalents at the beginning of the year</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,248,004</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,411,572&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>6.05.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cash and equivalents at the end of the year</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,702,077</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,234,154,</FONT></P></TD></TR>

<TR>

   <TD width="15%">&nbsp;</TD>

   <TD width="65%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 12.15pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Consolidated Financial Statements / Statements of Changes in Equity - 01/01/2019 to 03/31/2019</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.6pt">

   <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=10>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 39.65pt">

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Paid-in capital</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Capital reserve, granted options and treasury shares</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Earnings reserve</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Retained earnings (accumulated losses)</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Shareholders' equity</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Non-controlling interests</FONT></B></P></TD>

   <TD style="HEIGHT: 39.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Consolidated shareholders' equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.01</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Opening balances</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,065,188</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8,702,735</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,310,705</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>10,013,440</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.03</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Adjusted opening balances</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,065,188</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8,702,735</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,310,705</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>10,013,440</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150,183</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>142,611</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>94,335</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>236,946</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Profit (loss) for the year</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>94,335</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>86,763</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150,183</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150,183</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150,183</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.04</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Translation adjustments for the year</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(21,804)</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(21,804)</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(21,804)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.06</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Actuarial gains/(losses) on pension plan, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>30</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.07</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on cash flow hedge accounting, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>165,777</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>165,777</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>165,777</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.08</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on hedge of net investment in foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>6,180</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>6,180</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>6,180</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.06</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Internal changes in shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.06.04</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Non-controlling interests in affiliates </FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150,183</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.07</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Closing balance</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,540,000</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>32,720</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,064,827</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,215,371</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8,845,346</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,405,042</FONT></P></TD>

   <TD style="HEIGHT: 8.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>10,250,388</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Consolidated Financial Statements / Statements of Changes in Equity - 01/01/2018 to 03/31/2018</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 3.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Paid-in capital</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Capital reserve, granted options and treasury shares</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Earnings reserve</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Retained earnings (accumulated losses)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Shareholders' equity</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Non-controlling interests</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Consolidated shareholders' equity</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.01</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Opening balances</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,540,000 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,291,689) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,779,032 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;7,027,373 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,260,856 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;8,288,229 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.03</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Adjusted opening balances</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,540,000 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,291,689) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,779,032 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;7,027,373 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,260,856 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;8,288,229 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,531,466) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(59,603) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;14,632 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(44,971) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Profit (loss) for the year</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;-&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;14,632 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,486,495 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,531,466) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,531,466) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,531,466) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.04</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Translation adjustments for the year</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;37,958 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;37,958 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;37,958 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.06</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Actuarial gains on pension plan, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.07</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Available-for-sale assets, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,559,680) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,559,680) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,559,680) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.08</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on cash flow hedge accounting, net of taxes</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,914) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,914) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,914) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.05.02.09</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(Loss) / gain on hedge of net investment in foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,860) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,860) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,860) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.06</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Internal changes in shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(19,638) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(19,638) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.06.04</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Non-controlling interests in affiliates </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(19,638) </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(19,638) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5.07</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Closing balance</FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,540,000 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;30 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;180,174 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;2,247,566 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;6,967,770 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,255,850 </FONT></P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;8,223,620 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

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   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Page 16</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD></TR>

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   <TD width="50%">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="50%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 15.75pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>Consolidated Financial Statements / Statements of Value Added</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>(R$ thousand)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Year to date</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Previous year</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2019 to 03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 25.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>01/01/2018 to </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,948,101</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;7,781,869 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sales of products and rendering of services</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,795,881</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5,850,130 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other revenues</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>131,521</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,940,033 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.01.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Allowance for (reversal of) doubtful debts</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>20,699 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(8,294) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Raw materials acquired from third parties</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4,677,204) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3,950,032) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Cost of sales and services</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3,742,381) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3,238,366) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Materials, electric power, outsourcing and other</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(893,674) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(705,475) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Impairment/recovery of assets</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(41,149) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(6,191) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Gross value added</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,270,897</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,831,837 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Retentions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(328,070) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(315,872) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.04.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Depreciation, amortization and depletion</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(328,070) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(315,872) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.05</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Wealth created</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,942,827</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,515,965 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.06</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Value added received</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>95,823</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;11,346 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.06.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Equity in results of affiliated companies</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>25,833</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>24,851 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.06.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Financial income</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>111,314</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;42,896 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.06.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(41,324) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(56,401) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.06.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others and exchange gains</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(41,324) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(56,401) </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.07</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Wealth for distribution</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,038,650</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,527,311 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Wealth distributed</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,038,650</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;3,527,311 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Personnel</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>610,988</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;557,720 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.01.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Salaries and wages</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>457,968</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;436,222 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.01.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Benefits</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>108,793</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;100,501 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.01.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Severance payment (FGTS) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>44,227</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;20,997 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Taxes, fees and contributions</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>631,219</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;896,795 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.02.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Federal</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>551,594</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;796,634 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.02.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>State</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>74,681</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;94,051 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.02.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Municipal</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,944</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;6,110 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Remuneration on third-party capital</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>709,680</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>586,301 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Interest</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>632,849</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;523,256 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.03.02</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Leases</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5,342</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;6,425 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.03.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>71,489</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;56,620 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.03.03.01</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Others and exchange losses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>71,489</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;56,620 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.04</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Remuneration on Shareholders' capital</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>86,763</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,486,495 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.04.03</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Retained earnings (accumulated losses)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7,572)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;1,471,863 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>7.08.04.04</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Non-controlling interests in retained earnings</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>94,335</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Comments on the Company&#8217;s Consolidated Performance</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#002060 face=calibri,sans-serif>1Q19 Earnings Release</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Companhia Sider&#250;rgica Nacional (CSN) (BM&amp;FBOVESPA: CSNA3) (NYSE: SID) </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>announces today its consolidated results for the first quarter of 2019 (1Q19)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, which are presented in Brazilian Reais and in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), and with Brazilian accounting practices, which are fully convergent with international accounting norms, issued by the Accounting Pronouncements Committee (CPC) and approved by the Brazilian Securities and Exchange Commission (CVM), pursuant to CVM Instruction 485 of September 1, 2010. All comments presented herein refer to the Company&#8217;s consolidated results for the first quarter of 2019 (1Q19) and comparisons refer to the fourth quarter of 2018 (4Q18) and the first quarter of 2018 (1Q18), unless otherwise stated. The real/U.S. dollar exchange rate was R$3.8967 on <FONT style="FONT-SIZE: 10pt" face=Calibri>0</FONT>3/30/2019 and R$3.8748 on 12/31/2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Operating and Financial Highlights</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Adjusted EBITDA totaled R$1,724MM</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, up 39% over 1Q18 and 11% over 4Q18. The EBITDA margin increased 4.2p.p., to 27.7%, fueled by the strong mining performance.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Mining EBITDA reached R$1,259MM</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, 51% more than in 4Q18, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>with an increase of around 68% in EBITDA/ton</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> in the segment, thanks to better realized prices</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#212121 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#212121 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN style="FONT-SIZE: 10pt" color=#212121 face=calibri,sans-serif>4% growth in the volume of steel sales</FONT></B><FONT lang=EN style="FONT-SIZE: 10pt" color=#212121 face=calibri,sans-serif> in the domestic market in relation to 1Q18, with maintenance of the level of coated products.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>The leverage ratio fell 0.48x</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, from </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>4.55x </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>in 4Q18 to </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>4.07x</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, thanks to higher EBITDA and lower debt.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Highlights</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

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   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>

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   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Steel sales (thousand t)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,277</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,181</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,175</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(8%)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(0%)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;&nbsp; - Domestic market</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>782</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>835</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>811</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4%</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(3%)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;&nbsp; - Subsidiaries abroad</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>436</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>299</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>340</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(22%)</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>14%</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;&nbsp; - Exports</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>60</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>46</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>24</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(60%)</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(48%)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Iron ore sales (thousand t)</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>7,474</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>9,889</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>8,859</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>19%</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(10%)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;&nbsp; - Domestic market</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,309</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,366</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,169</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(11%)</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(14%)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;&nbsp; - Exports</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>6,165</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>8,523</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>7,690</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>25%</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(10%)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Consolidated results (R$ million)</FONT></B></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Net revenue</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>5,066</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>6,051</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>6,005</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>19%</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(1%)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Gross profit </FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,381</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>2,052</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,984</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>44%</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(3%)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Adjusted EBITDA&#185;</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,242</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,560</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,724</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>39%</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>11%</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Adjusted net debt&#178;</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>26,508</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>26,616</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>25,772</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(3%)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(3%)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Adjusted cash and cash equivalents&#178;</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,070</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,274</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,601</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>17%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>10%</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Net debt/adjusted EBITDA</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>5.82x</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4.55x</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4.07x</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-1.75x</FONT></P></TD>

   <TD style="HEIGHT: 6.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-0.48x</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>&#185;Adjusted EBITDA is calculated based on net profit/loss, plus depreciation and amortization, income tax, net financial result, share of profit (loss) of investees and other operating income (expenses), and includes the proportionate share of EBITDA of the jointly-owned subsidiaries MRS Log&#237;stica and CBSI. It includes the Company&#8217;s stakes of 100% in CSN Minera&#231;&#227;o, 37.27% in MRS and 50% in CBSI.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>&#178;Adjusted net debt and the adjusted cash position include the stakes of 100% in CSN Minera&#231;&#227;o, 37.27% in MRS and 50% in CBS excluding Forfaiting and drawee risk operations.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>CSN&#8217;s Consolidated Results</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Net revenue</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> totaled R$6,005 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, up 19% over 1Q18 and down 1% from 4Q18. It remained in line with 4Q18, thanks to the improvement in the performance of the mining operations and steel seasonality.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=red face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, the </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>cost of goods sold</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> totaled R$4,021 million, 9% more than in 1Q18 and 0.5% higher than in 4Q18. Compared to 4Q18, we saw an increase in slab costs in the Steel segment, due the end of blast furnace number 3 campaign, while mining showed a decrease in the COGS due to the lower sales volume.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Gross profit</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> stood at R$1,984 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, 3% less than in 4Q18. The gross margin fell 0.9p.p. from 4Q18, to 33% in 1Q19, due to an increase in steel costs, partially offset by the mining performance. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>General and administrative expenses</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> totaled R$120 million, with a </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>dilution from 2.1% (1Q18) to 2.0% (1Q19)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> of net revenue. </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Selling expenses </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>amounted to R$573 million, or 9.5% of net revenue, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>0.5p.p. more </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>than in 1Q18 (9.0% of net revenue), due to the greater proportion of the transoceanic freight of iron ore in the CIF modality.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Net other income (expenses)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> was an expense of R$135 million in 1Q19, mainly driven by the recognition of the hedge accounting result and other expenses, partially offset by the appreciation of Usiminas shares. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>The </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>net financial result</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> was an expense of R$635 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>. </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Financial expenses (ex-exchange variation)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> edged up to </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>R$633 million</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, as a result of the non-recurring increase in other financial expenses related to new issue, partially offset by a decline in the cost of debt. </FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>Financial Result (R$ million)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>Financial result &#8211; IFRS</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(594)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>510 </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(635)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>&nbsp;Financial revenue</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>43 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>884 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>111 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>&nbsp;Financial expenses</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(637)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(374)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(746)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>&nbsp;&nbsp; Financial expenses (ex-exchange rate variation)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(523)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(589)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(633)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>&nbsp;&nbsp; Result with exchange rate variation</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(113)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>215 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(114)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Monetary and exchange rate variation</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(138)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>535 </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hedge accounting</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>24 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(319)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>12 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative result</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(1)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;-&nbsp;&nbsp; </FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&#185; The financial result includes the stakes of 100% in CSN Minera&#231;&#227;o, 37.27% in MRS and 50% in CBSI as of December 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>CSN&#8217;s </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>share of profit of investees </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>was a positive R$26 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, versus a positive R$25 million in 1Q18, remaining flat as a result of stable results at MRS.</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Share of Profit (Loss) of Investees (R$ million)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>MRS Log&#237;stica</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 33 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 54 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 43 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>30%</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(20%)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>CBSI</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 1 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 1 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>TLSA</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(3)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(4)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (6)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>100%</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>50%</FONT></P></TD></TR>

<TR style="HEIGHT: 12.45pt">

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Arvedi Metalfer BR</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>0 </FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(1)</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>- </FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 12.45pt">

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Eliminations</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(6)</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (10)</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (12)</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>100%</FONT></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>20%</FONT></P></TD></TR>

<TR style="HEIGHT: 12.45pt">

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Share of profit of investees</FONT></B></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>25 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 40 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 26 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4%</FONT></B></P></TD>

   <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(35%)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>CSN recorded</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>a </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>net profit of R$87 million</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, versus a net profit of R$1,772 million in 4Q18. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 13.35pt">

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Adjusted EBITDA (R$ million)</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>

   <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Net profit (loss) for the period</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,486</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,772</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>87</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(94%)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(95%)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(-) Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>305</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>285</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>306</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>0%</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>7%</FONT></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(+)&nbsp; Income tax and social contribution</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>559</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>89</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>459</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(18%)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>416%</FONT></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(-) Net financial result</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>594</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(510)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>635</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>7%</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>EBITDA (CVM Instruction 527)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>2,944</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,636</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,487</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(49%)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(9%)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(+) Other operating income (expenses)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(1,797)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(188)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>135</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(+) Share of profit (loss) of investees</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(25)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(40)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(26)</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4%</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(35%)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(-) Proportionate EBITDA of jointly-owned subsidiaries</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>119</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>153</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>127</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>7%</FONT></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(17%)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.35pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Adjusted EBITDA</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,242</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,560</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,724</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>39%</FONT></B></P></TD>

   <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>11%</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter20"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&#185;The Company discloses adjusted EBITDA excluding interests in investments and other operating income (expenses) in the belief that these items should not be considered when calculating recurring operating cash flow.</FONT></P>

<a name="_bclHeader20"></a><DIV><FONT face=Calibri></FONT>&nbsp;</DIV></DIV>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 19</FONT></P></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
&nbsp; <A name=page_21></A>
<a name="_bclPageBorder21"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=red face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Adjusted EBITDA
amounted to R$1,724 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, versus R$1,242 million in
1Q18, due to an increase in the share of mining, while the adjusted EBITDA
margin was 27.7%, 4.2p.p. higher year on year.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="HEIGHT: 235px; WIDTH: 412px; MARGIN-TOP: 13px; POSITION: absolute; MARGIN-LEFT: 0px; LEFT: 0px"></FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#262626 face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#262626 face=calibri,sans-serif>Adjusted EBITDA (R$ MM) and Adjusted EBITDA Margin
(%)</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif><IMG border=0 src="ip21a.jpg"></FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>&#185;The adjusted EBITDA margin is
calculated as the ratio between adjusted EBITDA and adjusted net revenue,
considering the stakes of 100% in CSN Minera&#231;&#227;o, 37.27% in MRS and 50% in CBSI
as of December 2015.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif><IMG border=0 src="ip21b.jpg" align=middle></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Free Cash
Flow</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Operating cash flow, as measured
by free cash flow, was negative by R$493 million, influenced by the temporary
increase in working capital in the steel and mining sectors, to be reversed in
the coming quarters.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT size=2 face=Calibri></FONT>&nbsp;</P>
<DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%">
      <P></P>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=#262626 face=calibri,sans-serif>Free Cash Flow R$MM</FONT></B></P></TD>
    <TD width="50%">
      <P></P>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#262626 face=calibri,sans-serif>1Q19 Free Cash Flow
  R$MM</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT size=2 face=Calibri></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 20</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_22></A>
<a name="_bclPageBorder22"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>&#185;Our working capital includes
changes in net current capital, excluding the impacts of the exchange rate
variation and an advance from our customer Glencore.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Debt
</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>On <FONT style="FONT-SIZE: 10pt" face=Calibri>0</FONT>3/30/2019, consolidated net debt totaled R$25,772 million,
while the net debt/EBITDA ratio, calculated based on LTM adjusted EBITDA, stood
at 4.09x, 1.73x less than in 1Q18. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="HEIGHT: 342px; WIDTH: 512px; MARGIN-TOP: 258px; POSITION: absolute; MARGIN-LEFT: 154px; LEFT: 0px"></FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif><STRONG></STRONG></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif><STRONG>Debt (R$MM) and Net
Debt/Adjusted EBITDA(x) </STRONG></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif><IMG border=0 src="ip22a.jpg" align=middle></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Foreign Exchange
Exposure</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-DECORATION: none" face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif>The net FX
exposure + perpetual bond of our consolidated balance sheet on 3/30/2019 was
US$726 million, as shown in the table below. It should be noted that the net
foreign exchange exposure includes a liability of US$1.0 billion in line item
&#8220;Loans and Financing&#8221; related to the perpetual bond, which, due to its nature,
will not require disbursement to settle the principal amount in the foreseeable
future. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>The hedge accounting
adopted by CSN correlates projected export inflows in dollars with part of the
scheduled debt payments in the same currency. Therefore, the exchange variation
of the dollar-denominated debt is temporarily booked under shareholders&#8217; equity,
being recorded in the income statement when dollar revenues from exports are
received.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif> </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Foreign Exchange Exposure</FONT></B></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif><FONT style="FONT-SIZE: 8pt" face=Calibri>0</FONT>3/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif><FONT style="FONT-SIZE: 8pt" face=Calibri>0</FONT>3/30/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>(in thousands of U.S.
      dollars)</FONT></B></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>IFRS</FONT></B></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>IFRS</FONT></B></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>IFRS</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Cash</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp; 244
      </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>377
    </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp; 99
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Accounts receivable</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp; 322
      </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>358
    </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>486
    </FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp; 4
      </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>9
</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>7
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Total assets</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp; 571
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>743
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>593
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Loans and financing</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(4,236)</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(4,117)</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(4,053)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Trade payables</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp;
      (175)</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(175)</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(125)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Other payables</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp;
      (5)</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(4)</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Total liabilities</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(4,417)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(4,295)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(4,181)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Natural foreign exchange exposure
      (assets - liabilities)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(3,846)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(3,552)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(3,589)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Derivatives, net</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>-
</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Cash flow hedge accounting</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>1,307
      </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>2,076
      </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>1,862
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Net foreign exchange exposure
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(2,539)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(1,476)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp;
      (1,726)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="HEIGHT: 7.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Perpetual bond</FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>1,000
      </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>1,000
      </FONT></P></TD>
    <TD style="HEIGHT: 7.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>1,000
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 7.55pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Net foreign exchange exposure
      excluding perpetual bond</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(1,539)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(476)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.55pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(726)</FONT></B></P></TD></TR></TABLE></DIV>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader23"></a><DIV><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Investments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif>Investments
totaled R$313 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif>, moving up 40%
over 1Q18, due to investments related to scheduled stoppage of blast furnace
number 3 in the steel segment and the tailings filtering plants in the mining
segment, which will enable efficiency gains in steel production and 100%
processing of the production without the need to use dams in the end of
2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif></FONT>&nbsp;</P>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

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    <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Investments (R$
    million)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>2017</FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.35pt">
    <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Steel</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>65</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>271</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>160</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>481</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>637</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.35pt">
    <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Mining</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>116</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>174</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>118</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>378</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>505</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.35pt">
    <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Cement</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>23</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>30</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>14</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>118</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>79</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.35pt">
    <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Logistics</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>18</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>26</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>17</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>76</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>84</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.35pt">
    <TD style="HEIGHT: 13.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>2</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>5</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>12</FONT></P></TD>
    <TD style="HEIGHT: 13.35pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>12</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.35pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp;Total investments - IFRS
      </FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      223 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      507 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      313 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,065
      </FONT></B></P></TD>
    <TD style="HEIGHT: 13.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,319
      </FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=red face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Working capital
</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 7pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>To calculate working capital,
CSN adjusts its assets and liabilities as shown below: </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Accounts receivable:
excludes dividends receivable, advances to employees and other receivables;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Inventories: includes
estimated losses and excludes spare parts, which are not part of the cash
conversion cycle, and will later be booked under property, plant and equipment;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Prepaid taxes:
composed only of the portion of income tax and social contribution included in
recoverable taxes;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Taxes payable:
composed of taxes payable under current liabilities plus taxes in installments;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Advances from
customers: sub-account of other liabilities recorded under current liabilities;
and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Suppliers: Includes
Drawee Risk </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Accordingly, working capital
invested in the business</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> totaled R$3,344 million in 1Q19, an increase of R$967MM
</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>in</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>relation to </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>4Q18</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, due to temporary increases in
inventories and accounts receivable. Specifically, Blast Furnace #3 shutdown
increased the slab inventory in anticipation of the period of lower production,
while the growth in accounts receivable was due to iron ore sales concentrated
at the end of the period, aiming to obtain better realized prices.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Working Capital (R$
      million)</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=6>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>6,252</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>6,480</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>7,797</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
      </FONT></B><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,544
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 1,317
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Accounts receivable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>2,146</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>2,078</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>2,835</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>689 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>757 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Inventories</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4,064</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4,393</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4,952</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>888 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>559 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Prepaid taxes</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>42</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>9</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>9</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (33)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
(0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,869</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4,103</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>4,452</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>584 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>349 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Trade payables</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,253</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,445</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,529</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>276 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 84
</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Payroll and related taxes</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>233</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>248</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>262</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 29 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 14
</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Taxes payable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>288</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>272</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>555</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>268 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>283 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Advances from customers</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>95</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>137</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>106</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 11 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
  (31)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Working capital</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>2,383</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>2,377</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>3,344</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>961 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>967 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=calibri,sans-serif>Average Term
(days)</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: white 1pt solid; HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=6>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Amounts received</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>33</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>27</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>37</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 4
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 10
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Amounts paid</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>79</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>78</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>79</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>-
    </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 1
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Inventories</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>99</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>99</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>111</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 12
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 12
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: white 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Financial cycle</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>53</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>48</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>69</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 16
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 21
      </FONT></B></P></TD></TR></TABLE></DIV>
<a name="_bclFooter23"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 22</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_24></A>
<a name="_bclPageBorder24"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader24"></a><DIV><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Results by Segment
</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 8pt; TEXT-DECORATION: none" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>The Company maintains integrated
operations in five business segments: Steel, Mining, Logistics, Energy and
Cement.&nbsp; The main assets and/or companies comprising each segment are
presented below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT size=2 face=Calibri></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><IMG border=0 src="ip24a.jpg"></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif>Net Revenue by
Segment &#8211; 1Q19 (R$ million) </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"></P>
<DIV align=left>&nbsp;</DIV><B><FONT lang=EN-US color=gray face=calibri,sans-serif>&nbsp;
<P align=center><IMG border=0 src="ip24b.jpg"></P></FONT></B>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 23</FONT></P></DIV>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader25"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif>Adjusted EBITDA by
Segment &#8211; 1Q19 (R$ million) </FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif><IMG border=0 src="ip25a.jpg"></FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"></P>
<DIV align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>1Q19 Result</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Steel</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Mining</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Port
      logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Railway
      logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Energy</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Cement</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Corporate
      </FONT></B></P>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>expenses/</FONT></B></P>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>elimination</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>(R$ million)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Net revenue</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>3,605</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,079</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>52</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>335</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>70</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>120</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(255)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>6,005</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Domestic
    market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,567</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>245</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>52</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>335</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>70</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>120</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(629)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,760</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Foreign
market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,038</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,834</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>374</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>3,245</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>COGS</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(3,222)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(870)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(47)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(261)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(61)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(138)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>577</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(4,021)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Gross profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>383</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,209</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>5</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>74</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>9</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(18)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>322</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,984</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>SG&amp;A</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(197)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(42)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(9)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(27)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(7)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(21)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(390)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(694)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Depreciation</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>157</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>92</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>7</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>92</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>4</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>32</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(79)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>306</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>Proportionate EBITDA of jointly-owned
      subsidiaries</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>127</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>127</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Adjusted EBITDA</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>344</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,259</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>3</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>138</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>6</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(7)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(19)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,724</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>4Q18 Result</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Steel</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Mining</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Port
      logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Railway
      logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Energy</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Cement</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Corporate
      </FONT></B></P>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>expenses/</FONT></B></P>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>elimination</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>(R$ million)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Net revenue</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>3,768</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,843</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>72</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>398</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>103</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>145</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(278)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>6,051</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Domestic
    market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,718</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>300</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>72</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>398</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>103</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>145</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(768)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,969</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Foreign
market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,050</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,542</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>490</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>3,082</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>COGS</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(3,057)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(1,054)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(48)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(275)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(77)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(149)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>662</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(3,998)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Gross profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>711</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>789</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>24</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>123</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>26</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(4)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>384</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,052</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>SG&amp;A</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(266)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(42)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(9)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(34)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(7)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(31)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(541)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(929)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Depreciation</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>150</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>88</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>6</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>66</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>4</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>27</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(56)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>285</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>Proportionate EBITDA of jointly-owned
      subsidiaries</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>153</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>153</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Adjusted EBITDA</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>594</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>835</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>21</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>156</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>23</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(8)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(60)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,560</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>1Q18 Result</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Steel</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Mining</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Port
      logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Railway
      logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Energy</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Cement</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Corporate
      expenses/</FONT></B></P>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>elimination</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>(R$ million)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Net revenue</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>3,674</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,152</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>66</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>331</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>91</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>131</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(378)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>5,066</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Domestic
    market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,291</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>219</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>66</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>331</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>91</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>131</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(612)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,515</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Foreign
market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,384</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>933</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>234</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>2,551</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>COGS</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(2,900)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(795)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(46)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(244)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(66)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(125)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>493</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(3,685)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Gross profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>774</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>356</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>20</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>87</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>24</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>5</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>115</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,381</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>SG&amp;A</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(234)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(21)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(10)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(23)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(7)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(20)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(249)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(564)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Depreciation</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>150</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>106</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>4</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>65</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>4</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>27</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(51)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>305</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>Proportionate EBITDA of jointly-owned
      subsidiaries</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>119</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>119</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>Adjusted EBITDA</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>690</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>442</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>14</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>128</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>22</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>12</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>(66)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=calibri,sans-serif>1,242</FONT></B></P></TD></TR></TABLE></DIV>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 24</FONT></P></DIV>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader26"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif>CSN&#8217;s Steel
Results</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>According to the World Steel
Association (WSA), global crude steel production totaled 444.1 million tons
(Mton) in 1Q19, 4.5% more than in 1Q18. Asia produced 312.9 Mton in 1Q19, 7.0%
more than in 1Q18, while output in the European Union fell 2.0% and production
in North America declined 4.0% in the same period. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>According to the Brazilian Steel
Institute (IABr), domestic sales totaled 2.8 million tons in the first two
months of 2019, down 0.7% less from the same period last year. Apparent
consumption reached 3.2 million tons in the same period, a 1.2% year-on-year
decline. Brazilian crude steel production reached 5.6 million tons, a 0.5%
increase over the first two months of 2018.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>CSN&#8217;s </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>slab
production</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> reached 830,000 tons in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, down 18% from 4Q18, due to
higher maintenance shutdowns associated with the end of the Blast Furnace #3
campaign, and other reforms scheduled for the next quarter. In this period, CSN
acquired 200,000 tons of slabs from third parties to maintain production of
rolled products stable in 1Q19.</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>Steel Production</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" colSpan=6>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.5pt">
    <TD style="HEIGHT: 10.5pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>(in thousands of tons)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=calibri,sans-serif>Total slabs (UPV - President Vargas Steelwork +
      third parties)</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,050</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,021</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,030</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(2%)</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>&nbsp;&nbsp;&nbsp; Slab production</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,050</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,013</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>830</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(21%)</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(18%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>&nbsp;&nbsp;&nbsp; Third-party slabs</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>8</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>200</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>2,339%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Total flat rolled products</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>978</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>927</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>927</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(5%)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(0%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Total long rolled products</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>40</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>53</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>51</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>28%</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(3%)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=red face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=red face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, total sales reached
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,175,000</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> tons, in line with 4Q18, due to
the delay in the economic recovery observed in the first months of the year.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=red face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#262626 face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#262626 face=calibri,sans-serif>Sales
Volume - Steel</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"><IMG border=0 src="ip26a.jpg"></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 25</FONT></P></DIV>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" color=#262626 face=calibri,sans-serif><IMG border=0 src="ip27a.jpg" align=middle>&nbsp;</FONT></B></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#262626 face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 239.25pt 6pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=red face=symbol></FONT>&nbsp;</P>
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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 239.25pt 6pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=red face=symbol></FONT>&nbsp;</P>
<DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top width="3%"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#ff0000 face=symbol>&#183;</FONT></TD>
    <TD vAlign=top width="67%">
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, CSN&#8217;s
      </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>domestic steel</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> sales came to 811,000
      tons, 3% lower than in 4Q18, due to seasonality</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> According to the National
      Institute of Steel Distributors (INDA), distribution purchases increased
      1.2% in 1Q19 over 1Q18. Imports closed 1Q19 at 305,900 tons, up 1.1% over
      1Q18. </FONT></P></TD>
    <TD vAlign=top width="30%" align=center>
      <P align=center><IMG border=0 src="ip27b.jpg"></P>
      <P align=center>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top width="3%"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#ff0000 face=symbol>&#183;</FONT></TD>
    <TD vAlign=top width="67%">
      <P style="TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Foreign</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> steel
      sales</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>amounted to 364,000 tons
      in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, up 5% over 4Q18, and the
      comparison as 1Q18 is impaired by the sale of the plant in Terra Haute. In
      this period, 24,000 tons were exported directly and 340,000 tons were sold
      by foreign subsidiaries, of which 30,000 tons by LLC, 226,000 tons by SWT
      and 84,000 tons by Lusosider. </FONT></P></TD>
    <TD vAlign=top width="30%" align=center><IMG border=0 src="ip27c.jpg"></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 239.25pt 6pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=red face=symbol></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 239.25pt 6pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=red face=calibri,sans-serif></FONT>&nbsp;</P>
<DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top width="3%"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#ff0000 face=symbol>&#183;</FONT></TD>
    <TD vAlign=top width="97%">
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, CSN
      maintained a high </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>share of coated products</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> as a
      percentage of total sales volume, following the strategy of adding more
      value to its product mix. Sales of coated products, such as galvanized
      items and tin plates, accounted for 48% of flat steel sales, considering
      all the markets in which the Company operates. In the</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> foreign
      market</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, the share of coated products in flat steel sales
      remained stable at 89% in 1Q19. </FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 239.25pt 6pt 0.25in"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 26</FONT></P></DIV>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>According to ANFAVEA (National Association of
      Automobile&nbsp; Manufacturers), the production of automobiles, light
      commercial vehicles, trucks and buses reached 695,730,000 units in the
      first quarter of 2019, a decline of 0.58% from 1Q18 and an increase of
      1.50% over 4Q18. Exports showed a weaker performance, with 104,562,000
      vehicles sold, a decrease of 42% versus 1Q18. Anfavea expects vehicle
      production to grow 9.0%, to 3.14 million units, in 2019. </FONT></P>
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>According to ABRAMAT (the Construction Material
      Manufacturers&#8217; Association), sales of building materials grew 2.9% in
      March 2019 over the same month in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>2018. The
      association maintains its expectation that sales of building materials
      will grow 2.0% in 2019.</FONT></P>
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>According to IBGE (Brazilian Institute of
      Geography and Statistics), home appliance production moved up 1.5% in the
      twelve months ended February 2019 compared to the same period last
      year.</FONT></P></TD>
    <TD width="30%">
      <P align=center><IMG border=0 src="ip28a.jpg"></P></TD></TR></TABLE></DIV></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 161.3pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT size=2 face=Calibri></FONT>&nbsp;</P>
<DIV>
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  <TR>
    <TD vAlign=top width="3%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT></TD>
    <TD vAlign=top width="97%">
      <P style="TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Net revenue</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> from steel operations
      reached R$3,605 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, 4% lower than
      in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>4Q18</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>. This was due to the
      reflection of seasonality, as well as the delay in economic recovery. In
      the domestic market, average steel prices fell 3% compared to the previous
      quarter.</FONT></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top width="3%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT></TD>
    <TD vAlign=top width="67%">
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, the
      </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>cost of goods sold</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> increased 5.3% over 4Q18,
      to R$3,222 million, mainly due to lower productivity of blast furnace
      number 3.</FONT></P></TD>
    <TD rowSpan=2 width="30%">
      <P align=center><IMG border=0 src="ip28b.jpg"></P></TD></TR>
  <TR>
    <TD vAlign=top width="3%"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=symbol>&#183;</FONT></TD>
    <TD vAlign=top width="67%">
      <P style="TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif>Slab
      production cost </FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif>reached
      R$2,061/t in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif>, 14%
      higher than in 4Q18, fueled by higher spending on iron ore, driven by a
      sharp price increase and the scheduled stoppage of blast furnace number 3,
      which reduced slab production.</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=symbol></FONT>&nbsp;</P>
<DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top width="3%"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=symbol>&#183;</FONT></TD>
    <TD vAlign=top width="97%">
      <P style="TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif>Adjusted
      EBITDA</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif> totaled
      R$344 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" face=calibri,sans-serif>, 41%
      lower than in 4Q18, driving the EBITDA margin to 9.5% in 1Q19.&nbsp; The
      efficiency gains expected after the scheduled stoppage of blast furnace
      number 3 should be felt partially as of 3Q19 and fully as of 4Q19, taking
      the profitability of the business unit to its historical
      standard.</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 13pt" color=#002060 face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif>CSN&#8217;s Mining
Results</FONT></P>
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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In 1Q19, there was a significant
reduction in the transoceanic supply of iron ore, addition to the maintenance of
the strong growth of the Chinese economy and robust demand in the infrastructure
and civil construction sectors had a positive impact on steel production,
reflecting higher raw material prices. In this context, the commodity's price
averaged US$82.70/dmt (Platts, Fe62%, N. China) in 1Q19, up 15.5% over the
previous quarter.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In regard to maritime freight,
the BCI-C3 (Tubar&#227;o-Qingdao) route recorded an average of US$13.94/wmt in 1Q19,
a decline of 24% compared to the prior quarter mainly driven by lower demand for
ships in the period, as a result of a reduction in the supply of ore.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, CSN&#8217;s
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>iron
ore production </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>totaled 8.2 million tons, up 34% higher year on year,
due to the removal of bottlenecks from the start of filtration operations.
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Iron
ore purchases</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> reached 1,530,000 tons in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, up 3% over 1Q18.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>CSN </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>sold</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> 8.9 million tons of
iron ore in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, 19% more than in 1Q18, with 1.2 million tons sold to
the Presidente Vargas Steelworks and the remaining volume sold in Asia and
Europe.</FONT></P>
<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 13.3pt">
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Mining Production Volume and
      Sales</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=7>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.3pt">
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>(in thousands of
    tons)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.3pt">
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Iron ore production</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>6,129</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>7,382</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>8,190</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 34%
      </FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>11%
    </FONT></P></TD></TR>
  <TR style="HEIGHT: 13.3pt">
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Iron ore purchased from third
      parties</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,487</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>2,478</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,530</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>3%
    </FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(38%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.3pt">
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Total production +
      purchases</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>7,616</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>9,860</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>9,719</FONT></B></P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 28%
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp;
      (1%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.3pt">
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Sales to UPV</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,309</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,366</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1,169</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(11%)</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(14%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.3pt">
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Volume sold to third
    parties</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>6,165</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>8,523</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>7,690</FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 25%
      </FONT></P></TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 13.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(10%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.3pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Total sales</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>7,474</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>9,889</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>8,859</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>&nbsp; 19%
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>(10%)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=calibri,sans-serif>Production and sales volumes include our 100% stake in
CSN Minera&#231;&#227;o.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>In
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>net
revenue</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif> from mining reached R$2,079 million, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>13%</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif> higher than in the previous quarter, fueled
by a 12% upturn in realized prices. The Platts 62 index reached </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>US$82.70/dmt</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>, up 16% in the
quarter, while the CIF + FOB realized price stood at </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>US$70.6/wmt</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>, up 12% over the
previous period</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt">&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#262626 face=calibri,sans-serif><IMG border=0 src="ip29a.jpg"></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=PT-BR style="FONT-SIZE: 10pt" size=3 face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 28</FONT></P></DIV>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader30"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#262626 face=calibri,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 25.05pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>The
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>cost of goods sold</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>in the Mining
segment came to R$870 million in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>, down
17% from 4Q18, due to an increase in iron ore production and a decline in
purchases of ore from third parties.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 25.05pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>The </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA margin reached
61% in 1Q19, up 15.2p.p. over 4Q18</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, while</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> EBITDA came to
R$1,259 million in 1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, up 51% over 4Q18, due to the higher price, the higher
proportion of own production and lower costs, leading to a substantial increase
in EBITDA/ton.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif>CSN&#8217;s Logistics
Results</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Railway
Logistics:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Net revenue </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>stood at R$335 million in
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, generating </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> of R$138 million,
accompanied by an </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA margin</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> of 41%.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Port Logistics</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>: Sepetiba Tecon
shipped 162,000 tons of steel products and 1,000 tons of general cargo, in
addition to handling around 43,000 containers and 56,000 tons of bulk cargo in
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>. </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>Net revenue</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> reached R$52 million,
generating </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> of R$3 million, with an
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA margin</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> of 6%. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.6pt">
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Sepetiba TECON Highlights</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" colSpan=6>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.6pt">
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 11.6pt; BACKGROUND: navy; BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.6pt">
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Container volume (thousand units)</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>65</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>63</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>43</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(33%)</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(32%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.6pt">
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp;Steel volume (thousand tons)</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>219</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>162</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>162</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(26%)</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>0%</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.6pt">
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp;General cargo volume (thousand
      tons)</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>31</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>19</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>1</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(98%)</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>(96%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.6pt">
    <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&nbsp;Bulk volume (thousand tons)</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>56</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>-</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif>CSN&#8217;s Energy
Results</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>According to EPE (Energy
Research Company), electricity consumption in Brazil increased 4.6% in February
2019 compared to the same month last year. Electricity consumption fell 2.1% in
the industrial segment, but grew a substantial 9.2% and 7.2%, respectively, in
the residential and commercial segments.&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In 1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>net
revenue</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> from energy operations totaled R$70 million,
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>stood at R$6 million and the
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA margin</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> was 9%.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=gray face=calibri,sans-serif>CSN&#8217;s Cement
Results</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In the first three months of
2019, domestic cement sales totaled 12.7 million, according to preliminary date
of SNIC (National Cement Industry Association). This amount represents a 1.3%
increase over the same period in 2018. Also according to SNIC (</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=windowtext face=calibri,sans-serif>National Cement Industry Association</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>), the 1Q19 sales
result was slightly above estimates, supporting an optimistic scenario with
projected growth of 3% for 2019. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 29</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader31"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>In </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>, CSN&#8217;s </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>cement
sales</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif> declined 7% compared to the same quarter in
2018.</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>
Net revenue </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>totaled R$120 million and </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>EBITDA </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif>was negative by R$7
million, due to reduced sales volume and lower dilution of fixed costs.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#002060 face=calibri,sans-serif>Capital Market
</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif>CSN&#8217;s shares
appreciated 76.44% in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif>1Q19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif>, while the
IBOVESPA moved up 11.78%. Daily traded volume (CSNA3) on B3 averaged R$192
million. On the New York Stock Exchange (NYSE), CSN&#8217;s American Depositary
Receipts (ADRs) appreciated 69.14%, while the Dow Jones climbed 11.06%. On the
NYSE, daily traded volume of CSN&#8217;s ADRs (SID) averaged US$15.4
million.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=calibri,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15.85pt">
    <TD style="HEIGHT: 15.85pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="85%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 15.85pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=calibri,sans-serif>Number of shares (in thousands)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,387,524</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: navy 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,387,524</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Market cap</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Closing price
      (R$/share)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>8.84 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>16.25 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Closing price
      (US$/ADR)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>2.23 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>4.11 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Market cap (R$
      million)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>12,265</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>20,841 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Market cap (US$
      million)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>3,094 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>5,314 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=calibri,sans-serif>Total return including dividends and interest on
      equity</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>CSNA3</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(5.05%)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>&nbsp;
  76.44%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>SID</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(2.19%)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>69.14%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Ibovespa</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>11.78%</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>4.84%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Dow Jones</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>(13.47%)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>11.06%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Volume</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Daily average (thousand
      shares)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>8,042</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>15,184</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Daily average (R$
      thousand)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>74,976</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>191,925</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Daily average (thousand
      ADRs)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>1,958</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>4,473</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Daily average (US$
      thousand)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>4,764</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>15,417</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.55pt">
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%">
      <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif>Source: Bloomberg</FONT></I></P>
      <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt" face=calibri,sans-serif></FONT></I>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#333399 face=calibri,sans-serif>CONSOLIDATED SALES VOLUME (in thousands of
tons)</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 7.95pt">
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 13.9pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.9pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.9pt; BACKGROUND: navy; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.9pt; BACKGROUND: navy; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.9pt; BACKGROUND: navy; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.9pt; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.9pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: navy; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%" colSpan=7>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>Change</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.25pt">
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;Flat steel </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 737
      </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 791
      </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>760 </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></U></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>23 </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></U></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (31)</FONT></U></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Slab</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; - </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(0)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>- </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Hot rolled</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 271 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 284 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>293 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>22 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 9 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Cold rolled</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 157 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 159 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>155 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (2)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
(4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Galvanized</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 242 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 279 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>244 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 2 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
  (35)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>Tin plates</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 67 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 69 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>68 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 1 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
(1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.25pt">
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;UPV long steel </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 45
    </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 44
    </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>51 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 6 </FONT></P></TD>
    <TD style="HEIGHT: 13.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 7 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;DOMESTIC MARKET </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 782
    </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 835
    </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>811 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>29 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
    (24)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.25pt">
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;Flat steel </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 280
      </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 152
      </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>137 </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></U></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(143)</FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></U></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (15)</FONT></U></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Hot
      rolled</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 35 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 12 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>10 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (25)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
(2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Cold
      rolled</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 17 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>7 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 6 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (11)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
(1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Galvanized</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 191 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 89 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>96 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (95)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 7 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Tin
      plates</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 37 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 44 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>26 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (11)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
  (18)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.25pt">
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;Long steel (profiles) </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 216
    </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 193
    </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>226 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>10 </FONT></P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>33 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;FOREIGN MARKET </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 496
    </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 345
    </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>364 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(132)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>19 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.9pt">
    <TD style="HEIGHT: 13.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face="arial narrow,sans-serif"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q18</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>1Q19</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>x</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: navy; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=calibri,sans-serif>4Q18</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.25pt">
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;Flat steel </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,017
    </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 943
      </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>897 </FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></U></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(120)</FONT></U></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></U></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (46)</FONT></U></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Slab</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; - </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(0)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>- </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Hot
      rolled</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 306 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 295 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>303 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (3)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 8 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Cold
      rolled</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 174 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 166 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>161 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (13)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
(5)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Galvanized</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 433 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 368 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>340 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (93)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
  (28)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.9pt">
    <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt" color=black face=calibri,sans-serif>Tin
      plates</FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 104 </FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 113 </FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>94 </FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; (10)</FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.9pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
  (19)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;UPV long steel </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 45
    </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 44
    </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>51 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 6 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 7 </FONT></P></TD></TR>
  <TR style="HEIGHT: 13.25pt">
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;Long steel (profiles) </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 216
    </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 193
    </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>226 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>10 </FONT></P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>33 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;TOTAL MARKET </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,277 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>1,181 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp; 1,175
      </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>(102)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face=calibri,sans-serif>&nbsp;
    (6)</FONT></B></P></TD></TR></TABLE></DIV>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader32"></a><DIV><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=red face=calibri,sans-serif></FONT>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>(Expressed in thousands of reais &#8211; R$, unless otherwise
stated)</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>1.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>DESCRIPTION OF BUSINESS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>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, joint ventures, joint operations and
associates are collectively referred to herein as the "Group&#8221;). The Company&#8217;s
registered office is located in S&#227;o Paulo, SP, Brazil.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>CSN is listed on
the S&#227;o Paulo Stock Exchange (B3 S.A. - Brasil, Bolsa, Balc&#227;o) and on the New
York Stock Exchange (NYSE). Accordingly, the Company reports its information to
the Brazilian Securities and Exchange Commission (CVM) and the U.S. Securities
and Exchange Commission (SEC). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Group's main operating activities are divided into
five (5) segments as follows: </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Steel:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company&#8217;s main industrial facility is the Presidente
Vargas steelworks (&#8220;UPV&#8221;), located in the city of Volta Redonda, State of Rio de
Janeiro. This segment consolidates all 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 commercial
operations in the United States and operations in Portugal and Germany aimed at
gaining markets and providing excellent services to end consumers. Its steel is
used in home appliances, civil construction and automobile
industries.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Mining:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The production of iron ore is developed in the city of
Congonhas, State of Minas Gerais, by subsidiary CSN Minera&#231;&#227;o. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Iron ore is sold basically in the international market,
especially in Europe and Asia. The prices charged in these markets are
historically cyclical and subject to significant fluctuations over short periods
of time, driven by several factors related to global demand, strategies adopted
by the major steel producers, and the foreign exchange rate. All these factors
are beyond the Company&#8217;s control. The ore transportation is carried out through
Terminal de Carv&#227;o e Min&#233;rios do Porto de Itagua&#237; &#8211; (&#8220;TECAR&#8221;), a solid bulk
terminal, one of the four terminals that comprise the Itagua&#237; Port, in the state
of Rio de Janeiro. Imports of coal and coke are also carried out through this
terminal by providing services to CSN&#8217;s steel segment. The Company&#180;s mining
activities also comprise exploitation of tin in the State of Rond&#244;nia, to supply
the needs of the UPV. The surplus of these raw materials is sold to subsidiaries
and third parties.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company's mining activities utilize tailings dams for
which all appropriate measures are taken to mitigate the risks inherent to the
handling and disposal of the tailings and to comply with current environmental
legislation. It is important to reiterate that operating without dependence on
these dams is a priority in our </FONT><a name="page_33"></a><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>mining activities, for which investments of around R$ 250
million in dry stacking technology have already been made. In this context, it
is expected that CSN Minera&#231;&#227;o will be fully processing the tailings in the dry
process by the end of 2019, subject to revision of projects and expected
deadlines, proper operation of equipment and unforeseen delays. As a consequence
of these measures, decommissioning of dams is the natural way of processing dry
tailings.</FONT></P>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader33"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>All of our dams, both mining and hydroelectric dams, are
positively certified and comply with the environmental legislation in
force.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Cement:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>CSN entered in the cement market boosted by the synergy
between this new activity and its existing businesses. Next to the UPV in Volta
Redonda (RJ) is installed the new business unit CSN Cimentos, which produces
CP-III type of cement by using slag produced by the UPV blast furnaces in Volta
Redonda. It also explores limestone and dolomite at the Arcos unit, located in
the State of Minas Gerais, to satisfy the needs of UPV and the cement plant.
Additionally, the operation clinker production line is located in Arcos/MG. As a
result, the Company is self-sufficient in the production of cement, with an
installed capacity of 4.7 million tons per year.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; FONT-WEIGHT: normal; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Logistics</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Railroads:</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN has interests in three railroad companies: MRS
Log&#237;stica S.A., which manages the Southeast Railway System of the former Rede
Ferrovi&#225;ria Federal S.A. (&#8220;RFFSA&#8221;), Transnordestina Log&#237;stica S.A. (&#8220;TLSA&#8221;) and
FTL - Ferrovia Transnordestina Log&#237;stica S.A. (&#8220;FTL&#8221;), which has the concession
to operate the former 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 rail links 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), still under construction and FTL being
responsible for the rail links of S&#227;o Luiz-Mucuripe, Arrojado-Recife,
Itabaiana-Cabedelo, Paula Cavalcante-Macau and Propri&#225;-Jorge Lins (Railway
System I).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Ports:</FONT></I><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif> </FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company operates in the State of Rio de Janeiro,
through its subsidiary Sepetiba Tecon S.A., the Container Terminal (&#8220;TECON&#8221;) and
through its subsidiary CSN Minera&#231;&#227;o S.A.(&#8220;CSN Minera&#231;&#227;o&#8221;), TECAR, both at the
Itagua&#237; Port. Locate in the Bay of Sepetiba, they have privileged highway,
railroad and maritime access.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>At TECON, shipment of CSN&#180;s steel products, movement of
containers, storage, consolidation and deconsolidation of cargo are carried out
and, at TECAR, the shipment of iron ore to overseas market and the unloading of
coal and other products, such as petroleum coke, sulfur and zinc concentrate for
our own use and for several customers.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Energy:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>As energy is fundamental to its production process, the
Company has electric energy generation assets to guarantee its self-sufficiency.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Note 25 - &#8220;Segment Information&#8221; details the financial
information per CSN&#180;s business segment.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Going Concern</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The interim financial information was prepared based on
the normal continuity of its business.</FONT></P>
<a name="_bclFooter33"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 32</FONT></P></DIV>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader34"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The negotiations are in constant progress for reprofiling
part of the debts do not jeopardize the Company's operating continuity and
Management does not have any other relevant operational restructuring plan that
implies a change to the conclusion of the operational continuity. Further
disclosures on the bases for evaluating the operational continuity were made in
the disclosures of this subject included in the financial statements of December
31, 2018, approved by Management on february 20, 2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>2.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>2.a) Basis of preparation and declaration of
conformity</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The consolidated and parent company condensed interim
financial information (&#8220;condensed quarterly information&#8221;) have been prepared and
are being presented in accordance with accounting practices adopted in Brazil
based on the provisions of the Brazilian Corporate Law, pronouncements,
guidelines and interpretations issued (CPC), approved by CVM, besides the own
standards issued by the Brazilian Securities and Exchange Commission (&#8220;CVM&#8221;) and
International Financial Reporting Standards (&#8220;IFRS&#8221;) issued by the International
Accounting Standard Board (IASB) and highlight all the relevant information of
the interim financial statements, and only this information, is being disclosed
and corresponds to the information used by the Company's management in its
activities</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The condensed interim financial information has been
prepared and is being presented in accordance with CPC 21 (R1) - &#8220;Interim
Financial Reporting&#8221; and IAS 34 - &#8220;Interim Financial Reporting&#8221;, consistently
with the standards issued by the CVM.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The significant
accounting policies applied in this condensed interim financial information are
consistent with the policies described in Note 02 to the Company&#8217;s financial
statements for the year ended December 31, 2018, filed with CVM. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>This condensed interim financial information does not
include all requirements of annual or full financial statements and,
accordingly, should be read in conjunction with the Company&#8217;s financial
statements for the year ended December 31, 2018.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Therefore, in
this condensed interim financial information the following notes are not
repeated, either due to redundancy or to the materiality in relation to those
already presented in the annual financial statements:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Note 02 &#8211;
Summary of significant accounting policies</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Note 09 -
Investments</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Note 16 - Taxes
in installments</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Note 17 -
Provision for tax, social security, labor, civil and environmental risks and
judicial deposits</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Note 27 &#8211;
Employee benefits</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Note 28 &#8211;
Commitments</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The parent
company and consolidated condensed interim financial information was approved by
Management on May 8, 2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>2.b) Basis of presentation</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 33</FONT></P></DIV>
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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader35"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The consolidated condensed interim financial information
is presented in thousands of reais (R$), which is the Company&#8217;s principal
functional currency and the Group&#8217;s presentation currency.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>Transactions in foreign currencies are translated into the
functional currency using the exchange rates in effect at the dates of the
transactions or valuations when items are remeasured. The asset and liability
balances are translated at the exchange rates prevailing at the end of the
reporting period. As of March 31, 2019, US$1 is equivalent to R$3.8967 (R$3.8748
as of December 31, 2018) and &#8364;1 is equivalent to R$4.3760 (R$4.4390 as of
December 31, 2018), according to the rates obtained from the Central Bank of
Brazil website.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>2.c) Basis of consolidation</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The accounting policies have been consistently applied to
all consolidated companies. The consolidated financial statements for the period
ended March 31, 2019 and year ended December 31, 2018 include the following
direct and indirect subsidiaries and joint ventures, as well as the exclusive
funds, as described below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Companies</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 34</FONT></P></DIV>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
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      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Equity
      interests (%)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>&nbsp;</TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Companies</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Core
      business</FONT></B></P></TD></TR>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>&nbsp;</TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Direct
      interest in subsidiaries: full consolidation</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands VII Corp.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands XI Corp.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands XII Corp.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Steel S.L.U.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Equity
      interests and Financial transactions </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>TdBB S.A
      (*)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Equity
      interests</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sepetiba
      Tecon S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      100.00 </FONT></P></TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
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  <TR style="HEIGHT: 1pt">
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
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      99.99 </FONT></P></TD>
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      99.99 </FONT></P></TD>
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  <TR style="HEIGHT: 1pt">
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      100.00 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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      99.99 </FONT></P></TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      99.67 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      99.67 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Production and sale of cans and related
      activities</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Steel Holdings 1, S.L.U. </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions, product sales and Equity
      interests</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Productos Sider&#250;rgicos S.L.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions, product sales and Equity
      interests</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Stalhwerk Th&#252;ringen GmbH </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Production and sale of long steel and related
      activities</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Steel Sections UK Limited (*)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sale of
      long steel</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Steel Sections Polska Sp.Z.o.o </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions, product sales and Equity
      interests</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN Asia
      Limited </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Commercial representation</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Mining Holding, S.L&nbsp; </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions, product sales and Equity
      interests</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Mining GmbH</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial transactions, product sales and Equity
      interests</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Mining Asia Limited</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      -&nbsp;&nbsp; </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      99.92 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Commercial representation, steel sales and related
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lusosider Ib&#233;rica S.A.</FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Steel,
      commercial and industrial activities and equity interests</FONT></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Mining Portugal, Unipessoal Lda</FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Commercial and representation of
    products</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Companhia Siderurgica Nacional, LLC</FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      100.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Import
      and distribution /resale of products</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Direct
      interest in joint operations: proportionate
consolidation</FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>It&#225;
      Energ&#233;tica S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      48.75 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
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      17.92 </FONT></P></TD>
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      18.64 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
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    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>MRS
      Log&#237;stica S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      16.30 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      16.30 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Railroad
      transportation</FONT></P></TD></TR>
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    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Direct
      interest in associates: equity method</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Arvedi
      Metalfer do Brasil S.A. </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      20.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      20.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>Metallurgy and Equity interests</FONT></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) Dormant companies, therefore, they are presented
in note 9.a., where information on companies accounted for under the equity
method and fair value through profit or loss and comprehensive income is
disclosed;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=symbol></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Events in 2018</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>1. Transfer of 1% stake in Aceros Mexico CSN from CSN
Steel to Companhia Sider&#250;rgica Nacional occurred on February 1, 2018. On
September 18, 2018, CSN Steel increased the capital of Aceros Mexico CSN,
diluting the direct interest of Companhia Sider&#250;rgica Nacional to 0.08%, with
CSN Steel holding 99.92%. On February 1, 2019, the Federal Taxpayers' Registry
was canceled and, therefore, the settlement process of Aceros Mexico CSN was
terminated, however, before third parties and for the purposes of commercial
law, the settlement was retroactive to September 18, 2018;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Exclusive funds</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 35</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader37"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 24.75pt">
    <TD style="HEIGHT: 24.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 24.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 24.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=4>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Equity interests
      (%)</FONT></B></P></TD>
    <TD style="HEIGHT: 24.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD></TR>
  <TR style="HEIGHT: 14.1pt">
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Exclusive funds</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Core business</FONT></B></P></TD></TR>
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    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Direct interest: full
consolidation</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>Diplic II&nbsp; - Private credit balanced mutual
      fund</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Investment fund</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>Caixa V&#233;rtice - Private credit balanced mutual
      fund</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Investment fund</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>VR1 - Private credit balanced mutual
    fund</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>100.00 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Investment fund</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>3. ADOPTION OF
NEW ACCOUNTING PRACTICES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.75in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>IFRS 16/CPC 06(R2) - Leases</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The Company
applied as of January 1, 2019, IFRS 16/CPC 06 (R2) &#8211; Leases.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As a result, the
Company started to recognize in its financial statements the right to use the
assets and liabilities of lease arrangements. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The Company
opted to apply the modified retrospective approach, recognizing the cumulative
effect as an adjustment in the opening balance. For existing contracts on the
date of the initial adoption, the right to use was recognized for the amount
equal to the lease liability, which was measured at the present value of the
future fixed obligations provided for in the contract. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The company
applied the exemption provided for in the standard for the non-recognize of the
right of use and lease liability for contract with a term of not more than
twelve months and that has a low value.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The present
value of the lease liabilities was calculated using the interest rate implicit
in the contracts and in and in its absence, the Company chose to use the average
rate of fundraising. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The effects of
the recognition of the standard can be observed in notes 10 and 14.a.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>4.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CASH AND CASH EQUIVALENTS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" colSpan=3>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash and cash
      equivalents</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash and
    banks</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>413,573</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,124,714
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>27,660</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>37,323
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Short-term
      investments</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>In Brazil:</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Government securities
      </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>637</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>10,247
    </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>137</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>477
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Private securities
    </FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,140,113</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>609,480
    </FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>175,473</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>410,036
    </FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,140,750</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>619,727
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>175,610</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>410,513
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Abroad:</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><I><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Time
    deposits</FONT></I></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>147,754</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>503,563</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>90,716</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>92,017</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total short-term investments</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,288,504</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,123,290</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>266,326</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>502,530</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash and cash equivalents</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,702,077</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,248,004</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>293,986</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>539,853</FONT></B></P></TD></TR></TABLE></DIV>
<a name="_bclFooter37"></a><DIV>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 36</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_38></A>
<a name="_bclPageBorder38"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader38"></a><DIV>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The funds available established in Brazil, are basically
invested in repurchase agreements and Bank Certificate of Deposit (&#8220;CDBs&#8221;) and
yield interest based on the floating of Certificates of Interbank Deposits
(&#8220;CDI&#8221;) and government securities are basically repurchase agreements backed by
National Treasury Notes. The funds are managed by BNY Mellon Servi&#231;os
Financeiros DTVM S.A. and Caixa Econ&#244;mica Federal (CEF). The Company invests
part of the resources through the investments considered exclusive, and their
financial statements were consolidated into the Company&#8217;s statements.
</FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>The funds are managed by BNY Mellon Servi&#231;os Financeiros
DTVM S.A. and Caixa Econ&#244;mica Federal (CEF). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>A significant part of the funds of the Company and its
foreign subsidiaries is invested in time deposits in top rated banks abroad and
the returns are based on fixed interest rates.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>5.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>FINANCIAL INVESTMENTS </FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=5>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Non-Current
</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CDB - Certificate of bank deposit (1)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>774,095</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>882,376</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>774,095</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>882,376</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Government securities (2)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,513</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,337</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>973</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>621</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Time Deposit (3)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,829</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,772</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>778,608</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>895,713</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,829</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,772</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>775,068</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>882,997</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Financial
investment linked to Bank Certificate of Deposit to secure a letter of
guarantee. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Investments in
National Treasury Bills (LFT) managed by its exclusive funds. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="Times New Roman">3.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Investments in
Time Deposit in custody to cover additional expenses of the sale of
LLC.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>6.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>TRADE RECEIVABLES </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade receivables</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Third
    parties</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Domestic market</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,427,314</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,369,396</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,115,355</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,094,323</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Foreign market</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,439,153</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>852,821</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>93,425</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>141,484</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,866,467</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,222,217</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,208,780</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,235,807</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Allowance for doubtful
      debts</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(216,671)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(237,352)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(155,263)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(176,855)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,649,796</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,984,865</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,053,517</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,058,952</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Related parties (Note 18
      a)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>185,600</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>93,317</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,182,272</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>906,865</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,835,396</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,078,182</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,235,789</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,965,817</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 4.5pt">
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>In accordance with the internal sales policy the Group
carries out transactions of assignment of receivables without co-obligation in
which, after assigning the customer&#8217;s trade notes/bills and receiving the
amounts from each transaction closed, CSN settles the receivables and becomes
entirely free from the credit risk of the </FONT><a name="page_39"></a><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>transaction. In March 31, 2019, this transaction in the
consolidated totals R$33,701 (R$ 46,210 as of December 31, 2018) and in the
Parent Company R$28,650 (R$40,849 as of December 31, 2018).</FONT></P>
<a name="_bclFooter38"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 37</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_39></A>
<a name="_bclPageBorder39"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader39"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The gross balance of receivables from third parties is
comprised as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,242,463</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,514,847</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" face=arial,sans-serif>728,508</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>758,433</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Past-due up to 30 days</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>106,027</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>177,287</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" face=arial,sans-serif>29,863</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>48,705</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Past-due up to 180 days</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>15,037</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>47,684</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" face=arial,sans-serif>10,180</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>8,361</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Past-due over 180 days</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>502,940</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>482,399</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" face=arial,sans-serif>440,229</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>420,308</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,866,467</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,222,217</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8.5pt" face=arial,sans-serif>1,208,780</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,235,807</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The movements in the Company&#8217;s allowance for doubtful
debts are as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Opening balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(237,352)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(191,979)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(176,855)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(140,392)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Estimated losses</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,453)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(53,706)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,511)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(39,042)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Recovery of receivables </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,134</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>8,333</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,103</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,579</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(216,671)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(237,352)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(155,263)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(176,855)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>7.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>INVENTORIES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Finished goods</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,598,028</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,362,981</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,110,728</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>951,529</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Work in progress</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,286,810</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,122,933</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,137,762</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>959,414</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Raw materials</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,667,132</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,560,499</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,257,638</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,254,551</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Spare parts</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>851,283</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>856,097</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>485,544</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>495,385</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Iron ore </FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>358,678</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>258,612</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>43,411</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>18,478</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Advances to suppliers</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>45,076</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>36,192</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>42,919</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>28,185</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(-) Provision for losses </FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(141,177)</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(157,754)</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(43,545)</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,076)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,665,830</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,039,560</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,034,457</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>3,662,466</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.1pt">
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The movements in the provision for inventory losses are as
follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Opening balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(157,754)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(135,840)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,076)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(51,968)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 22.5pt">
    <TD style="HEIGHT: 22.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Reversal / (losses) for slow-moving and
      obsolescence</FONT></P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>16,577</FONT></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(21,914)</FONT></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,531</FONT></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,892</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(141,177)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(157,754)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(43,545)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,076)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 38</FONT></P></DIV>
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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

   <TD rowSpan=2 width="10%">

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   <IMG border=0 src="header.jpg"></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="45%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<a name="_bclHeader40"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>8.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>OTHER CURRENT AND NONCURRENT ASSETS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The group of other current and noncurrent assets is comprised as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Parent Company</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Non-current</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Judicial deposits (note 16)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>359,367 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>347,950 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>267,000 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>255,595 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Credits with the PGFN (1)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>46,774 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>46,774 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>46,774 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>46,774 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Recoverable taxes (2)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,457,857 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,412,335 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,818,077 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,822,388 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,311,098 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,265,003 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,700,521 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,692,274 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Prepaid expenses</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>100,603 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>49,830 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>54,293 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>49,808 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>65,151 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>25,716 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>38,248 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>34,450 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Actuarial asset - related party (note 18 a)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>93,757 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>99,894 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>80,598 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>85,415 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Derivative financial instruments (note 13 I)</FONT></P></TD>

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   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>351 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Securities held for trading (note 13 I)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,954 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4,503 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,806 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4,352 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Iron ore inventory (3)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>144,499 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>144,499 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Northeast Investment Fund &#8211; FINOR</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26,598 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26,598 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26,598 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26,598 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Loans with related parties (nota 18 a e 13 I)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,710 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,675 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>744,364 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>706,605 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>23,264 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22,807 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>649,967 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>588,285 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Other receivables from related parties (note 18 a)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,202 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,649 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>218,840 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>218,840 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>15,493 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>15,395 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>463,182 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>458,177 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Other receivables (note 13 I)</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7,438 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7,451 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,173 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,213 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Eletrobr&#225;s compulsory loan (note 13 I) (4)</FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>827,774 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>813,428 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>826,934 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>812,803 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Dividends receivable (note 18 a)</FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>48,315 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>46,171 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>261,330 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>259,186 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Employee debt</FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>45,055 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>31,645 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>31,113 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>19,684 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Sea freight&nbsp; (5)</FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>89,742 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>117,156 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,357 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Other receivables</FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10,600 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12,753 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,512 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,055 </FONT></P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>75,793 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>71,956 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>915 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>988 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>915 </FONT></P></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 13.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>986 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.95pt">

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,843,831 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,753,024 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,342,696 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,285,223 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,720,767 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,617,555 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,101,910 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,002,570 </FONT></B></P></TD></TR>

<TR>

   <TD width="25%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR></TABLE></DIV>

<a name="_bclFooter40"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 39</FONT></P></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
&nbsp; <A name=page_41></A>
<a name="_bclPageBorder41"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader41"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 32.2pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face=Arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face=Arial,sans-serif>Refers to the excess of judicial deposit originated by the
2009 REFIS (Tax Debt Refinancing Program). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 32.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 32.2pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" color=black face=Arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" color=black face=Arial,sans-serif>Refers mainly to PIS / COFINS, ICMS recoverable and income
and social contribution taxes to be offset. On September 20, 2018, the writ of
mandamus and special appeal filed in 2006, in which CSN and Federal Union were
parties, related to the discussion about the non-inclusion of ICMS in the
calculation base of PIS and COFINS, confirmed the CSN's right to offset the
amounts unduly paid under these taxes from 2001 to 2014. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 32.2pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face=Arial,sans-serif>Long-term iron ore inventories that will be used after the
construction of the processing plant, which will produce pellet feed, expected
to start operating in the first half of 2020.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 32.2pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face=Arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" color=black face=Arial,sans-serif>This is a fixed amount, certain and due, arising from the
res judicata favorable decision to the Company, which is irreversible and
irrevocable, to apply the STJ's consolidated position on the subject, which
culminated in the conviction of Eletrobr&#225;s to the payment of the correct
interest and monetary adjustment of the Compulsory Loan. The res judicata
decision, as well as the certainty about the amounts involved in the liquidation
of the sentence (judicial procedure to request the satisfaction of the right),
allowed the conclusion that the entry of this value is certain.</FONT></P>
<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 32.2pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>(5)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Refers to payment of freight expenses and marine insurance
on unrecognized sales revenues, following the guidelines of CPC 47 / IFRS15, the
freight in incoterms "CIF" is considered a distinct performance obligation and
for these, there&#8217;s no conclusion about the delivery process in March 31, 2019,
but the transport service provider had already been paid.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>9.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>INVESTMENTS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The information on the activities of subsidiaries, joint
ventures, joint operations, associates and other investments did not have any
changes in relation to that disclosed in the Company's financial statements as
of December 31, 2017 and, accordingly, the Company decided not to repeat it in
the condensed interim financial information as of March 31, 2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>9.a) Direct
interests in subsidiaries, joint ventures, joint operations, associates and
other investments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 40</FONT></P></DIV>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_42></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader42"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" size=2 face="Times New Roman"></FONT>&nbsp;</DIV>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
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    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
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    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3/31/2018</FONT></B></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Companies</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=5 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Number
      of </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>shares
      </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>held </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>by CSN
      (in units)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=5 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>% Direct
      </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>equity
      </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>interest</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="14%" colSpan=4 noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Participa&#231;&#227;o no</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=5 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>% Direct
      </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>equity
      </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>interest</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="20%" colSpan=5 noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Participa&#231;&#227;o no</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Shareholders&#8217; </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>equity</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Fair
      Value</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net
      </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>income /
      </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(loss)
      for </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>the
      period</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Shareholders&#8217; </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>equity</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Fair
      Value</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle rowSpan=4 width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net
      income / </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(loss)
      for the </FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>period</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=middle width="1%" noWrap align=center>&nbsp;</TD></TR>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands VII Corp.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
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      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      20,001,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      340,985 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,037,918 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (1,696,933)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(47,837)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      338,645 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,987,741 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,649,096)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(106,347)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands XI Corp.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      50,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,181,906 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,309,454 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(127,548)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,089
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;2,178,010 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,309,647 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (131,637)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(17,598)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands XII Corp.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,540
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,349,827 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,902,006 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,552,179)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(74,774)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,402,671 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,880,076 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,477,405)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (34,678)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Steel S.L.U.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>22,042,688 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,638,529 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>133,441
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,505,088 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      340 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>100.00
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,763,095 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      242,722 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,520,373 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>103,286
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sepetiba
      Tecon S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      254,015,052 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      634,264 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>321,477
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>312,787 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(4,646)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      480,459 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>163,026
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>317,433
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,281
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Min&#233;rios
      Nacional&nbsp; S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>141,719,295 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>113,604
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>41,366
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 72,238 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      566 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>110,446
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      38,774 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>71,672
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(94)</FONT></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Valor
      Justo - Min&#233;rios Nacional</FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,123,507 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Estanho
      de Rond&#244;nia S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>121,861,697 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      46,544 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>45,910
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>634 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2,340)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>48,181
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      45,207 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,974 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(570)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Companhia Metal&#250;rgica Prada</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      445,921,292 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      670,052 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      600,398 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 69,654 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(15,914)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      644,954 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      559,386 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      85,568 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(16,620)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Minera&#231;&#227;o S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>158,419,480 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      14,664,466 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,968,784 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,695,682 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>650,527
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      87.52 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>13,235,705 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      4,190,564 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,045,141 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>105,765
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Energia S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>43,149
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>129,410
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>37,851
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>91,559 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,307)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      138,644 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      45,778 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      92,866 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      9,054 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>FTL -
      Ferrovia Transnordestina Log&#237;stica S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>442,672,357 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>91.69
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      432,482 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>166,952
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 265,530 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (14,873)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>91.69
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      403,623 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>123,220
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      280,403 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (8,600)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Companhia Florestal do Brasil</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      41,923,302 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      34,987 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,609
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 33,378 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (8)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      34,990 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,604
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      33,386 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Nordeste
      Log&#237;stica</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99,999 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>85
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>56
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      99.99 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>85
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>56
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>29
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>25,237,141 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      14,567,222 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,793,426 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      493,823 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>23,779,508 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>13,587,801 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>12,315,214 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>38,877
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="15%" colSpan=3 noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Joint-venture and Joint-operation</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>It&#225;
      Energ&#233;tica S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>253,606,846 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      48.75 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      259,847 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>15,529
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>244,318
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,771 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      48.75 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      258,835 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>16,288
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      242,547 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,734 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>MRS
      Log&#237;stica S.A. (*)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      63,377,198 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;(*) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>18.64
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,849,227 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,111,208 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>738,019
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      21,466 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>18.64
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,563,350 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>846,813
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>716,537
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>16,481
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" vAlign=bottom width="9%" colSpan=2 noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>CBSI -
      Companhia Brasileira de Servi&#231;os de Infraestrutura</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,876,146 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      50.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      25,740 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>21,144
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      4,596 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      784 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      50.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      25,941 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>19,997
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      5,944 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>684
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Transnordestina Log&#237;stica S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      24,168,304 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>31.82
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,117,183 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,941,487 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,175,696 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>271,116
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(6,056)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      46.30 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,065,604 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,883,851 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,181,753 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>271,116
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2,514)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      6,251,997 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,089,368 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,162,629 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      271,116 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      17,965 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      5,913,730 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,766,949 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,146,781 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>271,116
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>17,385
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Associates</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Arvedi
      Metalfer do Brasil</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      46,994,971 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      20.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>40,712
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      26,308 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,404
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      20.00 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      40,712 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      26,308 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,404
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>45
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>40,712
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      26,308 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,404
      </FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      40,712 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      26,308 </FONT></B></P></TD>
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    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,404
      </FONT></B></P></TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>45
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Classified as fair value through profit or loss and
      comprehensive income (Note 13 I)</FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="9%" colSpan=2 noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lucros
      nos estoques de controladas</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(78,863)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      37,511 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (116,375)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (30,428)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Outros</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      63,539 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>171
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      63,538 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(15,324)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      37,682 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(52,837)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>(30,430)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total
      investments</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      17,633,474 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      549,470 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      16,973,867 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>25,877
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="24%" colSpan=7 noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Classification of investments in the balance
      sheet</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Investments in assets</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>21,010,134 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>20,232,005 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>Investments with negative equity</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (3,376,660)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (3,258,138)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="8%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      17,633,474 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      16,973,867 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 1pt" width="6%" noWrap align=right>&nbsp;</TD></TR></TABLE>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>(*) On March 31, 2019 and December 31, 2018, the Company
directly owned 26,611,282 common shares, 2,673,312 Class A preferred shares and
34,092,604 Class B preferred shares, totaling 36,765,916 preferred shares of MRS
Log&#237;stica S.A.;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The number of
shares, the balances of assets, liabilities and shareholders&#8217; equity, and the
amounts of profit / (loss) for the period refer to the interests held by CSN in
those companies.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>9.b) Movement in investments in subsidiaries, joint
ventures, joint operations, associates and other investments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="32%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="30%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.25pt">
    <TD style="HEIGHT: 7.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.25pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" rowSpan=2 width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.25pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" rowSpan=2 width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 7.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.25pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" rowSpan=2 width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 7.25pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" rowSpan=2 width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.95pt">
    <TD style="HEIGHT: 5.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">&nbsp;</TD>
    <TD style="HEIGHT: 5.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 5.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 5.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Opening balance of investments</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>5,630,613</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,499,995</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>20,232,005</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>22,894,885</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Opening balance of loss provisions</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(3,258,138)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,366,480)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Capital increase</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>380</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>380</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,594</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Dividends (1)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(2,144)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(87,846)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(2,301)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,529,277)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Comprehensive income (2)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>272</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(15,595)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,186</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Equity in results of affiliated companies
      (3)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>37,662</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>173,145</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>549,470</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>816,632</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.95pt">
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Receipt of sale
      of Usiminas' shares</FONT></P></TD>
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(39,377)</FONT></P></TD>
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 9.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(39,377)</FONT></P></TD></TR>
  <TR style="HEIGHT: 24.15pt">
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Update of shares measured at
      fair value through profit or loss (VJR) (note 13 II)</FONT></P></TD>
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>127,653</FONT></P></TD>
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>96,133</FONT></P></TD>
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>127,653</FONT></P></TD>
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 24.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>96,133</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amortization of fair value &#8211; investment
      in MRS</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(2,937)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,746)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Others</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,571</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing balance of investments</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>5,791,267</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,630,613</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>21,010,134</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,232,005</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 20.05pt">
    <TD style="HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Balance of provision for investments with negative
      equity</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(3,376,660)</FONT></B></P></TD>
    <TD style="HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 20.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,258,138)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>5,791,267</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,630,613</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>17,633,474</FONT></B></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.5pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,973,867</FONT></B></P></TD></TR></TABLE></DIV>
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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>In 2019, refers to the allocation of dividends of joint venture CBSI &#8211; Companhia Brasileira de Servi&#231;os de Infraestrutura.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Refers to the mark-to-market of investments classified fair value through profit or loss and fair value through other comprehensive income, translation to reporting currency of the foreign investment whose functional currency is not the Real, actuarial gain/loss and gain/loss on investment hedge from investments accounted for under the equity method. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>3.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The reconciliation of the equity in results of joint ventures and associates and the amount recorded in the statement of income are presented below and derive from the elimination of results of CSN's transactions with these companies:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>

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   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Equity in results of affiliated companies</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>MRS Log&#237;stica S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>42,922</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>32,954</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>CBSI - Companhia Brasileira de Servi&#231;os de Infraestrutura </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>784</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>684</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Transnordestina Logist&#237;cia S.A.</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6,056)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,514)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Arvedi Metalfer do Brasil S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>45</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>37,662</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>31,169</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Eliminations</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12.95pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>To cost of sales </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13,711)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(8,999)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>To taxes</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,662</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,060</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Others</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Amortization of fair value &#8211; investment in MRS</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,937)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,936)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;&nbsp; Others</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>157</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,557</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Equity in results adjusted</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,833</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24,851</FONT></B></P></TD></TR></TABLE><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" size=3 face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>9.c) Investments in joint ventures and joint operations </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>The balances of the balance sheet and statement of income of joint ventures are presented below and refer to 100% of the companies&#8217; results: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%" colSpan=5>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint-Venture</FONT></I></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint-Operation</FONT></I></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%" colSpan=5>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint-Venture</FONT></I></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint-Operation</FONT></I></B></P></TD></TR>

<TR style="HEIGHT: 33.75pt">

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Equity interest (%)</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>MRS Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>CBSI</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Transnordestina Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>It&#225; Energ&#233;tica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>MRS Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>CBSI</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Transnordestina Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>It&#225; Energ&#233;tica</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>34.94%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.00%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>46.30%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>48.75%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>34.94%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.00%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>46.30%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>48.75%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance sheet</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>321,174</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 681 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>21,500 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>41,389 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>345,962 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,091 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>19,234 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>29,870 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Advance to suppliers</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>15,184</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 85 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,788 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 84 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 17,750 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 73 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,734 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>937 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other current assets</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>564,112</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>41,372 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;95,119 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16,067 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 736,768 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 41,284 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 108,851 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16,718 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>900,470</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>42,138 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 118,407 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>57,540 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,100,480 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>43,448 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 129,819 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>47,525 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Non-current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other non-current assets</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>707,778</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,172 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>222,811 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>25,481 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 804,570 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,111 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>222,630 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>25,840 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Investments, PP&amp;E and intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>8,312,819</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7,169 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 8,551,205 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>449,998 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6,482,292 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 6,324 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8,428,567 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 457,578 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total non-current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,020,597</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,341 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 8,774,016 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>475,479 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 7,286,862 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 8,435 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8,651,197 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>483,418 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,921,067</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>51,479 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8,892,423 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>533,019 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 8,387,342 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 51,883 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8,781,016 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>530,943 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>313,905 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,102 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>90,949 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>422,793 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 4,350 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>75,906 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,165,880 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 39,012 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>179,164 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16,450 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,368,290 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>33,844 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 179,816 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 18,298 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 1,479,785 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>40,114 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 270,113 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16,450 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,791,083 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 38,194 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>255,722 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18,298 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Borrowings and financing</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,193,107 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,664 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5,864,164 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,111,518 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,262 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 5,754,073 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other non-current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,288,718 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>510 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 218,840 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 15,405 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 640,535 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 539 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 218,839 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 15,113 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total non-current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4,481,825 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,174 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6,083,004 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>15,405 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,752,053 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,801 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5,972,912 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>15,113 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Shareholders&#8217; equity</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,959,457 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,191 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,539,306 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>501,164 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 3,844,206 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11,888 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 2,552,382 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>497,532 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Total liabilities and shareholders&#8217;<BR>equity</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 5pt" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,921,067 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>51,479 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8,892,423 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>533,019 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 8,387,342 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 51,883 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>8,781,016 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>530,943 </FONT></B></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>01/01/2019 a 03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>01/01/2018 a 03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint-Venture</FONT></I></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint-Operation</FONT></I></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P><FONT style="FONT-SIZE: 7pt"></FONT>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint-Venture</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Joint - Operation</FONT></I></B></P></TD></TR>

<TR style="HEIGHT: 33.75pt">

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Equity interest (%)</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>MRS Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>CBSI</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Transnordestina Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>It&#225; Energ&#233;tica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>MRS Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>CBSI</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Transnordestina Log&#237;stica</FONT></B></P></TD>

   <TD style="HEIGHT: 33.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 33.75pt; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>It&#225; Energ&#233;tica</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>34.94%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>50.00%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>46.30%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>48.75%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>34.94%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>50.00%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>46.30%</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>48.75%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Statements of Income</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Net revenue</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>827,061 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 44,995 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 41,518 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>820,628 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 34,919 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 41,622 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost of sales and services</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(612,039)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(39,011)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (21,100)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (574,930)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (30,653)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (18,209)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>215,022 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 5,984 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>20,418 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>245,698 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 4,266 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 23,413 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Operating income (expenses)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 39,023 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (3,033)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(7,457)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(15,038)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (55,809)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (2,442)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (923)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (14,893)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Financial income (expenses), net</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(78,524)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(480)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (5,623)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 115 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (54,468)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (20)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(4,506)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(32)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Income before income tax and social contribution</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>175,521 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>2,471 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; (13,080)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5,495 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>135,421 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,804 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(5,429)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>8,488 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Current and deferred income tax<BR>and social contribution</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(60,355)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(904)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,863)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(46,999)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(436)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(2,880)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Profit / (loss) for the period</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>115,166 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,567 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(13,080)</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 3,632 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>88,422 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 1,368 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(5,429)</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5,608 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif><BR clear=all></FONT></B>&nbsp;<B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>TRANSNORDESTINA LOG&#205;STICA S.A. (&#8220;TLSA&#8221;)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>It is in pre-operational phase and will continue as such until the completion of Railway System II. The approved schedule, which estimated the completion of the work by January 2017, is currently under review and discussion with the responsible agencies; however, Management believes that new deadlines for project completion will not have material adverse effects on the expected return on the investment. After analyzing this matter, Management considered as appropriate the use of the accounting basis of operational continuity (going concern) of the project in the preparation of its financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The assumptions used to evaluate the impairment test in December 2018 remain valid and there is no trigger to justify records of impairment in the first quarter.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>10.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>PROPERTY, PLANT AND EQUIPMENT</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>

<TR style="HEIGHT: 42pt">

   <TD style="HEIGHT: 42pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Land</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Buildings and Infrastructure</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Machinery, equipment and facilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Furniture and fixtures</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Construction<BR>in progress</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other (*)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 42pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at December 31, 2018</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>287,854 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,678,638 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11,687,271 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>30,530 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,282,436 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>80,135 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18,046,864 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>287,854 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,751,429 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22,426,782 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>165,331 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,282,436 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>355,768 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>30,269,600 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,072,791)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(10,739,511)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(134,801)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(275,633)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(12,222,736)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at December 31, 2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>287,854 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,678,638 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11,687,271 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>30,530 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,282,436 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>80,135 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18,046,864 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Effect of foreign exchange differences</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,032)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2,361)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(7,831)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(83)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(121)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>13 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(11,415)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Acquisitions</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>90 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>24,257 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>760 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>286,789 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,634 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>313,530 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Capitalized interest (notes 24 and 27)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>21,111 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>21,111 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Write-off (note 23)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(121)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(13,588)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(13,712)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Depreciation (note 22)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(4,455)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(33,167)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(266,906)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,298)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(8,255)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(314,081)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Transfers to other asset categories</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>183,604 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>225,690 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>69 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(381,962)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(27,401)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Transfer to intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(29)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(29)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Right of use- Initial recognition (Note 14a)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>556,133</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>54,513</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,783 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>20,560 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>640,989 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(541)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(6)</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>49 </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(498)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>838,500 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,881,317 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>11,671,602 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>29,975 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,194,630 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>66,735 </FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18,682,759 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>842,955</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,994,541 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22,658,903 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>165,744 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,194,630</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>342,459 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>31,199,232 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(4,455)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,113,224)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(10,987,301)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(135,769)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(275,724)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(12,516,473)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; 838,500 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 2,881,317 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 11,671,602 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 29,975 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;&nbsp; 3,194,630 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66,735 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,682,759 </FONT></B></P></TD></TR>

<TR>

   <TD width="24%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 43</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="45%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The movement of the rights of use as of March 31,2019 is as follows.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidado</FONT></B></P></TD></TR>

<TR style="HEIGHT: 33.75pt">

   <TD style="HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Land</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Buildings and Infrastructure</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Machinery, equipment and facilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Initial recognition &#8211; Rights of use</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>556,133</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>54,513</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,783</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,560</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>640,989</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,455)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,537)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(815)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,406)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(11,213)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>551,678</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>52,976</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,968</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>16,154</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>629,776</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 47.1pt">

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT face=Arial></FONT></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 47.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Parent Company</FONT></B></P></TD></TR>

<TR style="HEIGHT: 39pt">

   <TD style="HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Land</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Buildings and Infrastructure</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Machinery, equipment and facilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Furniture and fixtures</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Construction<BR>in progress</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other (*)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 39pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at December 31, 2018</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>95,107 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,047,334 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7,093,263 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12,372 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,294,908 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>19,989 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,562,973 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>95,107 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,323,762 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>13,411,258 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>97,642 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,294,908 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>123,104 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>16,345,781 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(276,428)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(6,317,995)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(85,270)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(103,115)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(6,782,808)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at December 31, 2018</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>95,107 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,047,334 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7,093,263 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12,372 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,294,908 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>19,989 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,562,973 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Acquisitions</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>7,636 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>84 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>149,239 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,230 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>158,189 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Capitalized interest (notes 24 and 27)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5,419 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5,419 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Write-off (note 23)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(11)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(13,528)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(13,542)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Depreciation (note 22)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1,776)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(8,725)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(141,297)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(593)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3,679)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(156,070)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Transfers to other asset categories</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(481)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>48,173 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(47,689)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Right of use- Initial recognition (Note 14a)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>37,864</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>9,784</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>13,424</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>61,072</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; 131,195 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,038,128 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,017,548 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 11,857 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;&nbsp; 1,388,349 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 30,964 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 9,618,041 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; 131,195 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,323,231 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 13,476,857 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 97,701 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;&nbsp; 1,388,349 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; 137,758 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; 16,555,091 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (285,103)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; (6,459,309)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (85,844)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;(106,794)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; (6,937,050)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp; 131,195 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,038,128 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,017,548 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 11,857 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;&nbsp; 1,388,349 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 30,964 </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 5.5pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 9,618,041 </FONT></B></P></TD></TR></TABLE><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 44</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="45%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) Refer basically to railway assets such as courtyards, tracks and leasehold improvements, vehicles, hardware, mines, ore deposits, and spare part inventories.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The movement of the rights of use as of March 31,2019 is as follows.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidado</FONT></B></P></TD></TR>

<TR style="HEIGHT: 33.75pt">

   <TD style="HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Land</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Machinery, equipment and facilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 33.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Initial recognition &#8211; Rights of use</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,864</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,784</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,424</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>61,072</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,774)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(815)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,877)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,466)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>36,090</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,969</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,547</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>55,606</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.1pt">

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 8.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The breakdown of the projects comprising construction in progress is as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 14.1pt">

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P><FONT style="FONT-SIZE: 7pt"></FONT>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Consolidado</FONT></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

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

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Project description</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Start date</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Completion Date</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Logistics</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 22.5pt">

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; Current investments for maintenance of current operations. </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>73,102</FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>89,595</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>73,102</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>73,102</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Mining&nbsp;</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; Expansion of Casa de Pedra Mine capacity production. </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2007</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2020</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(1)</FONT></SUP></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>854,508</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>844,194</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; Expansion of TECAR export capacity. </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2009</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2022</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2)</FONT></SUP></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>292,342</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>289,298</FONT></P></TD></TR>

<TR style="HEIGHT: 22.5pt">

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; Current investments for maintenance of current operations. </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>532,425</FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>725,616</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,679,275</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,859,108</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Steel</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp;Supply of 16 torpedo&#8217;s cars for operation in the steel industry.&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2008</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2020</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>95,945</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>94,920</FONT></P></TD></TR>

<TR style="HEIGHT: 22.5pt">

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; Current investments for maintenance of current operations. </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(3)</FONT></SUP></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>666,153</FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>558,922</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>762,098</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>653,842</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Cement</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; Construction of cement plants. </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2011</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2023</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(4)</FONT></SUP></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>574,570</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>585,163</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; Current investments for maintenance of current operations. </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>105,585</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>94,728</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>680,155</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>679,891</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Construction in progress</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,194,630</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,282,436 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.25pt">

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 45</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<a name="_bclHeader47"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Estimated completion date of the Central Plant Step 1;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Estimated completion date of phase 60 Mtpa;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Refers substantially to &nbsp;the technological modernization continuous running machines and reform of blast furnace 3, at UPV;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Refers substantially to the acquisition of new Integrated Cement Plants. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The average estimated useful lives are as follows (in years): </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent Company</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>In Years</FONT></I></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Buildings</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>39&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>38</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>41</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>41</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Machinery, equipment and facilities</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>22</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>22</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Furniture and fixtures</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>13</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11</FONT></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>18</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>15</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>15</FONT></P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.25pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>13</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>11.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>INTANGIBLE ASSETS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>

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



<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Parent Company</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Goodwill</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Customer relationships</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Software</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trademarks<BR>and<BR>patents</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Rights and licenses (*)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Others</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Software</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Balance at December 31, 2018</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,590,931 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>288,773 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 54,972 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 150,009 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,166,999 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,491 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 7,253,175 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 49,613 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>49,613 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Cost </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,831,338 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>573,614 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 161,067 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 150,009 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,185,701 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,491 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,903,220 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 125,768 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>125,768 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Accumulated amortization </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(131,077)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (284,841)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(106,095)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (18,702)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(540,715)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(76,155)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (76,155)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Adjustment for accumulated recoverable value </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(109,330)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(109,330)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; - </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Balance at December 31, 2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,590,931 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>288,773 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 54,972 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 150,009 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,166,999 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,491 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 7,253,175 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 49,613 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>49,613 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Effect of foreign exchange differences</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(4,340)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (24)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2,129)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (23)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,516)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Acquisitions and expenditures</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>49 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 49 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Transfer to property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 29 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Amortization (note 22)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (11,438)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2,511)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(40)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(13,989)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1,937)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (1,937)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,590,931 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>272,995 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 52,515 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 147,880 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,166,959 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,468 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 7,232,748 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 47,676 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>47,676 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Cost </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,831,338 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>565,492 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>161,498 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 147,880 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,185,701 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,468 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 7,893,377 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>125,768 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 125,768 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Accumulated amortization </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(131,077)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (292,497)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (108,983)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (18,742)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(551,299)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(78,092)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; (78,092)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Adjustment for accumulated recoverable value </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(109,330)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(109,330)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance at March 31, 2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,590,931 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>272,995 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 52,515 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 147,880 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,166,959 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 1,468 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 7,232,748 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; 47,676 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>47,676 </FONT></B></P></TD></TR></TABLE></FONT></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;(*) Composed mainly by mineral rights with potential of 1,101 million tons (Not audited or reviewed by independent auditors). Amortization is based on production volume.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>The average useful lives by nature are as follows (in years):</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent Company</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Software</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Customer relationships</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>13</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>13</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 46</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The assumptions used for the impairment test in December 2018 are still effective and there is not factor that justifies the recognition of impairment in the quarter.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>12.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>BORROWINGS, FINANCING AND DEBENTURES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The balances of borrowings, financing and debentures, which are carried at amortized cost, are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

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   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P><FONT style="FONT-SIZE: 7pt"></FONT>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Consolidated</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P><FONT style="FONT-SIZE: 7pt"></FONT>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Parent Company</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current liabilities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current liabilities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

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   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Debt agreements in the international market</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Variable interest in US$:</FONT></B></P></TD>

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   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Prepayment&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,462,825</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,016,737</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,357,592</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,830,240</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,462,825</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,016,737</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,357,592</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,830,240</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed interest in US$:</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Bonds, Perpetual Bonds and ACC</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>2,310,207</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>2,490,178</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>8,662,173</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>8,613,491</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>400,119</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>478,463</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>2,908,191</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,070,423</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5,007,094</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,610,620</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>EUR</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Intercompany</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5,524</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>16,988</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,167,002</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>997,809</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>149,606</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>181,056</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>175,040</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>106,535</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,922,638</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,687,971</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12,194,805</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12,550,266</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,776,659</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,565,623</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,531,688</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>8,440,860</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Debt agreements in Brazil</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Securities with variable interest in R$:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>BNDES/FINAME, Debentures, NCE and CCB</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(1)</FONT></SUP></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,476,945</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,890,450</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,795,026</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,710,678</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,416,533</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,827,769</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,402,503</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,314,315</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Securities with fixed interest in R$:</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Prepayment&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>48,000</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 103,375 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>48,000</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 103,375 </FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,524,945</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,993,826</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,795,026</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,710,678</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,464,533</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,931,144</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,402,503</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,314,315</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Total Borrowings and Financing </FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5,447,583</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>5,681,797</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22,989,831</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>23,260,944</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6,241,192</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6,496,767</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>18,934,191</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>17,755,175</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Transaction Costs and Issue Premiums</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(32,445)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(28,358)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(102,275)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(87,309)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(27,003)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(22,379)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(84,126)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(67,967)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Total Borrowings and Financing + Transaction Costs</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5,415,138</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5,653,439</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>22,887,556</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>23,173,635</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>6,214,189</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>6,474,388</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>18,850,065</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>17,687,208</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%"><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 47</FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader49"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>(1) In January 2019, the Company issued debt securities in
the domestic market ("Debentures"), in the amount of R$1,950 million, maturing
in 2023 and interest of 126.8% of the CDI</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The following table shows the average interest
rate:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="35%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 22.5pt">
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Average interest
      rate (*)</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total
      debt</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Average interest
      rate (*)</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total
      debt</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="28%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>US$</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5.58%</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>15,792,797</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4.52%</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>13,135,821</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="28%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>R$</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8.20%</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12,319,971</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8.18%</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,867,036</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="28%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>EUR</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.88%</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>324,646</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.88%</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,172,526</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,437,414</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,175,383</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>(i) In order to determine the average interest rates for
debt contracts with floating rate, the Company used the rates applied as of
March 31, 2018. Considers the interest rate of intercompany contracts.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>12.a) Maturities of borrowings, financing and debentures
presented in noncurrent liabilities</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>As of March 31, 2019, the breakdown of principal plus
interest of long-term liabilities as borrowings, financing and debentures by
maturity date is presented as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Parent Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Principal</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Principal</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 22.5pt">
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Bank loans</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Capital markets</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Development agencies</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2020</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>1,636,089 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,596,628 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>56,292 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>5,289,009 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2,793,403 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2021</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2,913,341 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>&nbsp; 636,667 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>56,311 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,606,319 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>4,046,997 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2022</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2,738,475 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>&nbsp; 556,666 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>55,082 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,350,223 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,820,867 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2023</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2,865,024 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2,013,845 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>53,841 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>4,932,710 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,122,440 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>2024</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>1,276,001 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>64,602 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>1,340,603 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,793,007 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>After 2024</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>574,267 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>&nbsp; 574,267 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>1,357,477 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>Perpetual bonds</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,896,700 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>3,896,700 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="25%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>11,428,930 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>10,700,506 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>860,395 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>22,989,831 </FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>18,934,191 </FONT></B></P></TD></TR></TABLE></DIV>
<a name="_bclFooter49"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 48</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_50></A>
<a name="_bclPageBorder50"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader50"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" size=3 face="Times New Roman"></FONT>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>12.b) Borrowings raised and amortization, financing and
debentures </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The table below presents the funding raised and
amortizations during the year:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" colSpan=2>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 14.1pt">
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="36%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Opening balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 28,827,074
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>29,510,844 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 24,161,596
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>29,033,017
  </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Funding raised</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 2,465,845
    </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,154,471 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 3,828,529
    </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 602,110
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Principal repayment</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,939,145)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,019,978)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,986,303)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (6,098,209)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Payments of charges</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
(590,621)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,141,710)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (368,593)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (1,670,988)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Provision of charges</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>487,039 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,009,688 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>354,458
      </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,541,639
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Write-off - sale of subsidiary LLC</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(10,544)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Others (1)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>52,502 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,324,303 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>74,567 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 754,027
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 28,302,694
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,827,074 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 25,064,254
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24,161,596
  </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 4.5pt">
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" colSpan=2>&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>&nbsp;</TD>
    <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD></TR>
  <TR>
    <TD width="36%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>1. Includes
unrealized monetary and foreign exchange variations.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>As of March 31, 2019, the Group raised and paid borrowings
as shown below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Funding raised and amortizations:</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
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    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Nature</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Raised</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Amortization of
      principal </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Amortization of
      charges</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Prepayment </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(289,552)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,804)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Bonds, Perpetual bonds and ACC </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>515,845 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(502,889)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(295,720)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>BNDES/FINAME, Debentures, NCE and CCB </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,950,000 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,146,704)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(249,097)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Total </FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,465,845</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,939,145)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(590,621)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT face=Arial></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Covenants</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company's loan agreements establish the fulfillment of
certain non-financial obligations, as well as maintenance of certain parameters
and performance indicators, such as disclosure of its audited financial
statements according to regulatory deadlines or payment of commission on risk
assumption, if the net debt-EBITDA ratio reaches the levels in those agreements,
under penalty of anticipated maturity. </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company is </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 49</FONT></P></DIV>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader51"></a><DIV><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>12.c) Guarantees</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The Company is
the guarantor or is liable for the guarantees given to its subsidiaries and
joint ventures as follows: </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Currency</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Maturities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" colSpan=4 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Borrowings</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" colSpan=4 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Tax
      foreclosure</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" colSpan=4 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Others</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Transnordestina Log&#237;sitca</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Up to
      09/19/2056 and Indefinite</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,428,194 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,108,917 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>26,558
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>35,336
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      8,457 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      8,231 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,463,209 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,152,484 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>FTL -
      Ferrovia Transnordestina</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>11/15/2020</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>50,428
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>62,407
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>50,428
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>62,407
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Cia
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Indefinite</FONT></P></TD>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      333 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12,275
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12,275
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    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Energia</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Until
      11/26/2023 and Indefinite</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,829
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,829
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,920 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,920 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      4,749 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,749
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Minera&#231;&#227;o</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Until
      12/21/2024</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,407,363 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,407,363 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      3,153 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,153
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Min&#233;rios
      Nacional S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Until
      09/10/2021</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      7,305 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,305
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      7,305 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,305
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total in
      R$</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      3,896,443 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,589,145 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>29,720
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>38,498
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      22,319 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      22,093 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      3,948,482 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,649,736 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands XI</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>US$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>09/21/2019</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>547,094
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>547,094
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>547,094
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      547,094 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Islands XII</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>US$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Perpetual</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,000,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,000,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,000,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,000,000 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Resources</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>US$</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Until
      2/13/2023</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,402,906 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,402,906 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,402,906 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,402,906 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total in
      US$</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,950,000 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,950,000 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,950,000 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,950,000 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>CSN
      Steel S.L.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>EUR</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1/31/2020</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>24,000
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>48,000
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>24,000
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>48,000
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
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    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lusosider A&#231;os Planos</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>50,000
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>75,000
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>50,000
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>75,000
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
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    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
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    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total in
      EUR</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>74,000
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>123,000
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>74,000
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      123,000 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total in
      R$</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      11,819,089 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>11,976,657 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      11,819,089 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>11,976,657 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      15,715,532 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>15,565,802 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>29,720
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>38,498
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;22,319 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      22,093 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      15,767,571 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>15,626,393 </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>13.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>FINANCIAL INSTRUMENTS </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>I - Identification and measurement of financial
instruments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>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. The Company also enters into derivative transactions,
especially interest rate and foreign exchange rate swaps.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>Considering the nature of the instruments, the fair value
is basically determined by the use of quotations in the open capital market of
Brazil and the Commodities and Futures Exchange. The amounts recorded in current
assets and liabilities have immediate liquidity or maturity, mostly in terms of
less than three months. </FONT><a name="page_52"></a><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>Considering the term and the characteristics of these
instruments, the book values approximate the fair values.</FONT></P>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 50</FONT></P></DIV>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Classification of financial instruments </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;</FONT></B></P>
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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="22%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Notes</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Fair value through profit or loss</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Measured
      at amortized cost</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Balances</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Fair value through profit or loss</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Measured
      at amortized cost</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Balances</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Cash and
      cash equivalents</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,702,077 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,702,077 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,248,004 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,248,004 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Short-term investments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 778,608 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>778,608 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>895,713 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>895,713 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trade
      receivables</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,835,396 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,835,396 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,078,182 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,078,182 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Dividends receivable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 48,315 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>48,315 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>46,171 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>46,171 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>351 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 351 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trading
      securities</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,954 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,954 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,503 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,503 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Loans -
      related parties</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,710 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,710 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,675 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,675 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,954 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,367,106 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,377,060 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,854 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,270,745 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,275,599 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Short-term investments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,829 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,829 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,772 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,772 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other
      trade receivables</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,438 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,438 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,451 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,451 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Eletrobr&#225;s compulsory loan</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 827,774 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>827,774 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>813,428 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>813,428 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Loans -
      related parties</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 744,364 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>744,364 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>706,605 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>706,605 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Investments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,407,223 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,407,223 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,279,189 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,279,189 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,407,223 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,587,405 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,994,628 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,279,189 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,535,256 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,814,445 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total
      Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,417,177 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,954,511 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,371,688 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,284,043 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,806,001 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,090,044 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Borrowings and financing</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,447,583 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,447,583 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,681,797 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,681,797 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lease</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;14.a </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 45,742 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>45,742 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trade
      payables</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,228,213 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,228,213 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,408,056 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,408,056 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Suppliers - Forfating</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 300,947 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>300,947 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>65,766 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>65,766 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Dividends and interest on capital</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 932,005 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>932,005 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>932,005 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>932,005 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,954,490 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,954,493 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,087,624 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,087,624 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Borrowings and financing </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,989,831 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,989,831 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,260,945 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,260,945 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lease</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;14.a </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 587,496 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>587,496 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,577,327 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,577,327 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,260,945 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,260,945 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total
      Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>33,531,817 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>33,531,820 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>33,348,569 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>33,348,569 </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 51</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_53></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader53"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;&nbsp;
</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="22%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Parent
      Company</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Notes</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Fair value through profit or loss</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Measured
      at amortized cost</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Balances</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Fair value through profit or loss</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Measured
      at amortized cost</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Balances</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Cash and
      cash equivalents</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 293,986 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>293,986 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>539,853 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>539,853 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Short-term investments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 775,068 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>775,068 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>882,997 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>882,997 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trade
      receivables</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,235,789 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,235,789 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,965,817 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,965,817 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Dividends receivable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 261,330 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>261,330 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>259,186 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>259,186 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trading
      securities</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,806 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,806 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,352 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,352 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Loans -
      related parties</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,264 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,264 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,807 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,807 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,806 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,589,437 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,599,243 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,352 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,670,660 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,675,012 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other
      trade receivables</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,173 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,173 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,213 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,213 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Eletrobr&#225;s compulsory loan</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 826,934 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>826,934 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>812,803 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>812,803 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Loans -
      related parties</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 649,967 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>649,967 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>588,285 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>588,285 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Investments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,407,223 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,407,223 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,279,189 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,279,189 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,407,223 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,478,074 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,885,297 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,279,189 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,402,301 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,681,490 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total
      Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,417,029 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,067,511 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,484,540 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      2,283,541 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,072,961 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,356,502 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Borrowings and financing</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,241,192 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,241,192 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,496,768 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,496,768 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lease</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;14.a </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      20,453 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>20,453
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trade
      payables</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,536,172 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,536,172 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,655,091 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,655,091 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Suppliers - Forfating</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      300,947 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>300,947
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,766
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,766
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Dividends and interest on capital</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      900,541 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>900,541
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>900,541
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>900,541
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,999,305 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,999,308 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>10,118,166 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>10,118,166 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Borrowings and financing </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18,934,191 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>18,934,191 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>17,755,175 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>17,755,175 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lease</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;14.a </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      35,271 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>35,271
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>18,969,462 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>18,969,462 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>17,755,175 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>17,755,175 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total
      Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>28,968,767 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>28,968,770 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>27,873,341 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>27,873,341 </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Fair value measurement </FONT></B></P>
<a name="_bclFooter53"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" size=3 face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 52</FONT></P></DIV>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_54></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader54"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" size=3 face="Times New Roman"></FONT>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The following
table shows the financial instruments recognized at fair value through profit or
loss classifying them according to the fair value hierarchy:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 14.1pt">
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="34%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=5>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" colSpan=5>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Level 1</FONT></B></P></TD>
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Level 2</FONT></B></P></TD>
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balances</FONT></B></P></TD>
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Level 1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Level 2</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Balances</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Financial assets
      at fair value through profit or loss&nbsp; </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 14pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Derivative financial
      instruments</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 351 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>351 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 14pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Trading
    securities</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>9,954 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 9,954 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,503 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 4,503
</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Financial assets
      at fair value through profit or loss&nbsp; </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 14pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Investments</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 2,407,223
    </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;2,407,223
</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 2,279,189
    </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;2,279,189
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 2,417,177
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;2,417,177
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 2,283,692
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp; 351 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;2,284,043
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Financial
      liabilities at fair value through profit or loss</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 14pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Derivative financial
      instruments</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=arial,sans-serif>Level 1:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=arial,sans-serif> quoted prices in active markets for identical assets or
liabilities. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=arial,sans-serif>Level 2:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=arial,sans-serif> Includes observable inputs in market such as interest
rates, exchange etc., but not prices traded in active markets.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>There are no
assets and liabilities classified as level 3.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><EM><B><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" face=arial,sans-serif>II &#8211; Investments in securities measured at fair value
through profit or loss </FONT></B></EM></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The Company has
investments in common shares (USIM3), preferred shares (USIM5) of Usiminas
("A&#231;&#245;es Usiminas") and shares of Panatl&#226;ntica S.A. (PATI3) which are designated
as fair value through profit or loss, since the nature of the investment was not
included in the other categories of financial instruments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Assets are
classified as a non-current asset recognized as investment and are recorded at
fair value, based on the market price quotation on the stock exchange (B3 S.A.).
In accordance with the Company's policy, gains and losses arising from changes
in the share price are recorded directly in the statement of income under Other
Operating Income and Expenses.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 53</FONT></P></DIV>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp; </FONT></P>
<DIV align=left><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>
<TABLE style="WIDTH: 0px; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Class of shares</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchase of shares</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Quantity</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Share price</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Closing Balance</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Quantity</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Share price</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash Received</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Quantity</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Share price</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Closing Balance</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fair Value Through Profit or Loss (note
      23)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>USIM3</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      107,156,651 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      11.65 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,248,375 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      107,156,651 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      11.44 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,225,872 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      22,503 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>USIM5</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      111,144,456 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      10.04 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,115,890 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      111,144,456 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      9.22 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,024,752 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      91,138 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>PATI3</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,016,792 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      21.30 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      42,958 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      19,150 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      19.83 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      379,657 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,997,642 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      14.30 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      28,565 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      14,012 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      220,317,899 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,407,223 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      19,150 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      379,657 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      220,298,749 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,279,189 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      127,653 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      127,653 </FONT></B></P></TD></TR></TABLE></FONT></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As of March 31,
2019, and December 31, 2018, the Company's interest in USIMINAS comprised 15.19%
in common shares and 20.29% in preferred shares. As of March 31,2019 and
December 31, 2018, the Company's interest in Panatl&#226;ntica comprised 11.31% of
shares.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>On April 9, 2014, CADE issued a decision regarding
Usiminas' shares held by CSN, and CSN entered into a Performance Commitment
Agreement, or TCD, with CADE in respect thereof. Under the terms of the CADE and
TCD decision, CSN must reduce its participation in USIMINAS, within a specified
period. In March 2019, an amendment was made to the TCD, with the purpose of
extending the period originally scheduled for sale of the shares. The deadline
and percentage reduction are confidential. In addition, the political rights in
Usiminas will continue to be suspended until the Company reaches the limits
established in the TCD.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&#8226; Share market price risks</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company is exposed to the risk of changes in the price
of the shares due to the investments, valued at fair value through profit or
loss and other comprehensive income that have their prices based on the market
price on the stock exchange (B3).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>III
-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial risk
management: </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=arial,sans-serif>The Company follows risk management strategies, with
guidelines in relation to the risks incurred by the company. The nature and
general position of financial risks are regularly monitored and managed in order
to assess the results and the financial impact on cash flow. The quality of
counterparties&#8217; hedging instruments and the credit limit are also periodically
reviewed.&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Market risks are protected when it is considered necessary
to support the corporate strategy or when it is necessary to maintain the level
of financial flexibility.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company can manage some of risks by using derivative
instruments not associated with any speculative trading or short
selling.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>13.a) Foreign exchange rate and interest rate
risks:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Foreign exchange rate risk: </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The exposure arises from the existence of assets and
liabilities denominated in Dollar or Euro, since the Company's functional
currency is substantially the Real and is denominated natural currency hedge.
The net exposure is the result of offsetting the natural currency exposure by
hedging instruments adopted by CSN.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The consolidated net exposure as of March 31, 2019 is as
follows.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 54</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader56"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 24pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Foreign Exchange
      Exposure</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(Amounts in
      US$&#8217;000)</FONT></B></P></TD>
    <TD style="HEIGHT: 24pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 24pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(Amounts in
      &#8364;&#8217;000)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash and cash equivalents overseas</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>99,452 </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,042 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade receivables</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>485,775 </FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,416 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Other assets </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,298 </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,376 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>592,525 </FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,834 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Borrowings and financing</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
    (4,052,864)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(24,152)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade payables</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(124,734)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(7,859)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other liabilities</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,484)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,100)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (4,181,082)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(33,111)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Foreign exchange exposure</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (3,588,557)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(23,277)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash flow hedge accounting</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 1,862,224
    </FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net Investment hedge accounting</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24,000 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net foreign exchange exposure</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (1,726,333)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 723
  </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Perpetual bonds</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 1,000,000
    </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Net foreign exchange exposure excluding perpetual
      bonds</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(726,333)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 723
  </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN uses as strategy the hedge accounting, as well as
derivative instruments with the purpose of hedging CSN's future cash
flows.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Interest rate risk: </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Risk arises from
short and long term liabilities with fixed or post fixed interest rates and
inflation rates. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>In item 13b) we show the derivatives and hedging
strategies to hedge foreign exchange and interest rate risks.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>13.b) Hedging instruments:</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif> Derivative and
</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>cash flows hedge accounting and foreign
investment hedge accounting</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>CSN uses various
instruments to hedge foreign exchange and interest rate risks, as shown in the
following topics:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Portfolio of derivative financial
instruments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Swap
</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>cambial D&#243;lar x Euro </FONT></B></P>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 55</FONT></P></DIV>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
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      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
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      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The subsidiary Lusosider has derivative operations to
hedge its exposure of the dollar against the euro. </FONT></P>
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    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=3>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
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    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 30.25pt">
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Appreciation
      (R$)</FONT></B></P></TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Fair
      value<BR>(market)</FONT></B></P></TD>
    <TD style="HEIGHT: 30.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 30.25pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Impact on
      financial income (expenses) in 2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 40.35pt">
    <TD style="HEIGHT: 40.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Counterparties</FONT></B></P></TD>
    <TD style="HEIGHT: 40.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 40.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Maturity</FONT></B></P></TD>
    <TD style="HEIGHT: 40.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 40.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Functional
      Currency</FONT></B></P></TD>
    <TD style="HEIGHT: 40.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 40.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Notional
    amount</FONT></B></P></TD>
    <TD style="HEIGHT: 40.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 40.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Asset<BR>position</FONT></B></P></TD>
    <TD style="HEIGHT: 40.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 40.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Liability<BR>position</FONT></B></P></TD>
    <TD style="HEIGHT: 40.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 40.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Amounts receivable /
      (payable)</FONT></B></P></TD>
    <TD style="HEIGHT: 40.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.75pt">
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>BCP</FONT></I></P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>02/04/2019</FONT></P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Dollar</FONT></P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,262</FONT></P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,915</FONT></P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(4,918)</FONT></P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(3)</FONT></P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(354)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.75pt">
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>
      <P style="MARGIN: 0in 0in 0pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Total dollar-to-euro
      swap</FONT></I></B></P></TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>1,262</FONT></B></P></TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>4,915</FONT></B></P></TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(4,918)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(3)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>(354)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 4.7pt">
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.75pt">
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Classification of the derivatives in the balance sheet and
statement of income</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="26%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Instruments</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="39%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net Financial result (Note
      24)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Swap d&#243;lar x euro</FONT></I></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(354)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>730</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(354)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>730</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Cash
flow hedge accounting</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Beginning
November 1, 2014, the Company formally designates cash flow hedging
relationships to hedge highly probable future cash flows against US dollar
fluctuations. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>In order to
better reflect the accounting impacts of this foreign exchange hedging strategy
on the Company&#8217;s results, CSN designated part of its US dollar-denominated
liabilities as a hedging instrument of its future exports. As a result, foreign
exchange differences arising from designated liabilities will be temporarily
recognized in shareholders&#8217; equity and recognized in profit or loss when such
exports are carried out, allowing the recognition of the fluctuation of the
dollar over liabilities and exports can be recorded at the same time. The
adoption of this hedge accounting does not entail entering into any financial
instrument. As of March 31, 2019, US$1.862.224 in exports to be carried out
between April 2019 until February 2023 are designated.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>In order to
support the aforementioned designations, the Company prepared formal
documentation indicating how the hedge designation is aligned with CSN's
objective and risk management strategy, identifying the hedging instruments
used, the hedge object, the nature of the risk to be hedged and demonstrating
the expectation of high effectiveness of the designated relations. Debt
instruments have been designated in amounts equivalent to the portion of future
exports. Therefore, the exchange variation of the instrument and the object are
similar. According to the Company's accounting policy, continuous evaluations of
prospective and retrospective effectiveness should be carried out, comparing the
amounts designated with the amounts expected and approved in the Management's
budgets, as well as the amounts exported.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Through hedge
accounting, the exchange gains and losses on debt instruments will not
immediately affect the Company&#8217;s profit or loss except to the extent that
exports are carried out.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The table below
shows a summary of the hedging relationships as of March 31, 2019:</FONT></P>
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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Designation Date</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Hedging Instrument</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Hedged item</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of hedged risk</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Hedged period</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Exchange rate on designation</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Designated amounts (US$&#8217;000)</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Amortizated part (USD'000)</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>ffect on Result<BR>(*) (R$'000)</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impact on<BR>Shareholders'<BR>equity (R$'000)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3/11/2014</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2016 -<BR>September 2019 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.4442</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 500,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(331,823)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(118,845)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (244,279)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1/12/2014</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2015 -<BR>February 2019</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.5601</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 175,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(175,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (23,184)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12/18/2014</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>May 2020 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.6781</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 100,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (121,860)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/21/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>July 2019 - March<BR>2021 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.1813</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>60,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(42,924)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/23/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>July 2019 - March<BR>2021 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.2850</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 100,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(61,170)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/23/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2018 -<BR>October 2022 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.2850</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (6,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(14,681)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/24/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2018 -<BR>October 2022 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.3254</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 100,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (20,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(45,704)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/27/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2018 -<BR>October 2022 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.3557</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>25,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (5,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(10,820)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/27/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2018 -<BR>October 2022 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.3557</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (14,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(30,296)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/27/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2018 -<BR>October 2022 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.3557</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (6,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,984)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>07/28/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2018 -<BR>October 2022 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.3815</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (6,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,365)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3/8/2015</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayments in US$ to third parties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>October 2018 -<BR>October 2022 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.3940</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 355,000 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (11,998)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (172,427)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2/4/2018</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bonds</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Part of the highly probable future monthly iron ore exports</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange - R$ vs. US$ spot rate</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>July 2018 - February 2023 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.3104</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,170,045 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(307,000)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (42,188)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (506,008)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,745,045 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(882,821)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(184,217)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" align=center>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,275,518)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;(*) The effect on profit or loss was recognized in other operating expenses. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>In the hedging relationships described above, the amounts of the debt instruments were fully designated for equivalent iron ore export portions. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The movement in hedge accounting amounts recognized in shareholders&#8217; equity as of March 31, 2019 is as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.25pt">

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.1pt">

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Movement</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Realization</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash flow hedge accounting</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,441,295</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,440</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(184,217)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,275,518</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fair value of cash flow hedge, net of taxes</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,441,295</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>18,440</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(184,217)</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,275,518</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.25pt">

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As of March 31, 2019, the hedging relationships established by the Company were effective, according to prospective and retrospective tests conducted. Thus, no reversal for hedge accounting ineffectiveness was recognized in the quarter. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Hedge of net investment in foreign operation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>CSN has a natural currency exposure in Euros substantially arising from a borrowing taken by a foreign subsidiary with functional currency in Reais, for the acquisition of investments abroad where the functional currency is Euro. Such exposure arises from translating the balance sheets of these subsidiaries for consolidation into CSN, where the exchange difference on the borrowings affected the statement of income, </FONT>

<a name="page_59"></a><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>in
the financial income (expenses) line item, and the exchange difference on the
net assets of the foreign operation directly affected the shareholders equity,
in other comprehensive income.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 57</FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader59"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As from
September 1, 2015, CSN began to adopt the net investment hedge to eliminate such
exposure and cover future fluctuations of the Euro on such borrowings.
Non-derivative financial liabilities were designated, represented by borrowing
agreements with financial institutions in the amount of &#8364; 120 million. The
account balances as of March 31, 2019 are as follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.05pt">
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 48.2pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Designation
      Date</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Hedging
      Instrument</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Hedged
      item</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Type of hedged
      risk</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Exchange rate on
      designation</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Designated
      amounts (EUR'000)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Amortized part
      (USD&#8217;000)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 48.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Impact on
      shareholders' equity</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 36.15pt">
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>09/01/2015</FONT></P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Non-derivative financial liabilities in
      EUR &#8211; Debt contract</FONT></P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Investments in subsidiaries which EUR is
      the functional currency</FONT></P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Foreign exchange - R$ vs. EUR spot
rate</FONT></P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>4.0825</FONT></P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>120,000</FONT></P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>(96,000)</FONT></P></TD>
    <TD style="HEIGHT: 36.15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>(2,239)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.85pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>120,000</FONT></B></P></TD>
    <TD style="HEIGHT: 12.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>(96,000)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.85pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>(2,239)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.6pt">
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The movement in
the amounts related to net investment hedge recognized in shareholders&#8217; equity
as of March 31, 2019 is as follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 14.1pt">
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Movement</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net Investment hedge accounting</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,941</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6,180)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,239)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fair value of net investment hedge in
      foreign operations</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,941</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6,180)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,239)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As of March 31,
2019, the hedging relationships established by the Company were effective,
according to prospective tests conducted. Therefore, no reversal for hedge
ineffectiveness was recognized. </FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>13.c) Sensitivity analysis</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>We present below
the sensitivity analysis of foreign exchange rate and interest rate
risks.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Sensitivity
analysis of derivative financial instruments and consolidated foreign exchange
exposure</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company considered scenarios 1 and 2 as 25% and 50%
deterioration for currency volatility using as reference the closing exchange
rate as of March 31, 2019.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>The currencies used in the sensitivity analysis and their
scenarios are shown below:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 22.5pt">
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Currency</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange
      rate</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Probable
      scenario</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenario 1</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenario 2</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>USD</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,8967</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,9436</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,8709</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,8451</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>EUR</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,3760</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,4224</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,4700</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,5640</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>USD x EUR</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,1235</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,1245</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,4044</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,6853</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 22.5pt">
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest
      rate</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenario 1</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenario 2</FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>CDI</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,40%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,00%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,60%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>TJLP</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,03%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,79%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,55%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Libor</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,66%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,32%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,99%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR></TABLE></DIV>
<a name="_bclFooter59"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 58</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_60></A>
<a name="_bclPageBorder60"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader60"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The effects on profit or loss, considering scenarios 1 and
2, are shown below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 26.25pt">
    <TD style="HEIGHT: 26.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Instruments</FONT></B></P></TD>
    <TD style="HEIGHT: 26.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 26.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Notional</FONT></B></P></TD>
    <TD style="HEIGHT: 26.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 26.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk</FONT></B></P></TD>
    <TD style="HEIGHT: 26.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 26.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Probable scenario
      (*)</FONT></B></P></TD>
    <TD style="HEIGHT: 26.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 26.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenario
      1</FONT></B></P></TD>
    <TD style="HEIGHT: 26.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 26.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenario
      2</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Hedge accounting of exports</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,862,224</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>D&#243;lar</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,338</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,814,132</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,628,264</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Currency position</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,588,557)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>D&#243;lar</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(168,303)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,495,883)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,991,766)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(not including exchange derivatives
      above)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated exchange position</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,726,333)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>D&#243;lar</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(80,965)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,681,751)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,363,502)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(including exchange derivatives above)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net Investment hedge accounting</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,000</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Euro</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,114</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,256</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,512</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Currency position</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(23,277)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Euro</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,080)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(25,465)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(50,930)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated exchange position</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>723</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Euro</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>791</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,582</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(including exchange derivatives above)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Dollar-to-euro swap</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,262</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>D&#243;lar</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>986</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,641</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) The probable scenarios were calculated
considering the following variations for the risks: Real x Dollar &#8211; depreciation
of Real by 1.20% / Real x Euro &#8211; depreciation of Real by 1.06%. Euro x D&#243;lar -
depreciation of Euro by 0.09%. Source: quotations from Central Bank of Brazil
and European Central Bank on 04/23/2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Sensitivity
analysis of changes in interest rates</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company considered scenarios 1 and 2 as 25% and 50% of
changes in interest volatility as of March 31, 2019.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact
      on profit or loss</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Changes in interest rates</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>%
      p.a</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Probable scenario
      (*)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Scenario 1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Scenario
  2</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>TJLP</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,03</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(920,280)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,938)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(16,174)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(32,348)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Libor</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,66</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,748,778)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(71,638)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(31,573)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(63,146)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>CDI</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,40</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,140,113</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(11,333,373)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(39,171)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(147,092)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(294,184)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;(*) The sensitivity analysis assumes of maintaining
as a probable scenario the market values as of March 31, 2019 recognized in the
company's assets and liabilities.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>13.d) Liquidity risk</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 59</FONT></P></DIV>
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  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader61"></a><DIV><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>It is the risk that the Company does not have enough
liquid resources to honor its financial commitments, because of mismatching of
term or volume between expected receipts and payments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>To manage the liquidity of the cash in local and foreign
currency, premises of disbursements and future receipts are established, being
monitored daily by the Treasury area. The payment schedules for the long-term
portions of the loans and financing and debentures are presented in Note
12.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The following
table shows the contractual maturities of financial liabilities and lease
liabilities, including accrued interest.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 21.75pt">
    <TD style="HEIGHT: 21.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>At March 31,
      2019</FONT></B></P></TD>
    <TD style="HEIGHT: 21.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Less than one
      year</FONT></B></P></TD>
    <TD style="HEIGHT: 21.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 21.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>From one to two
      years</FONT></B></P></TD>
    <TD style="HEIGHT: 21.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 21.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>From two to five
      years</FONT></B></P></TD>
    <TD style="HEIGHT: 21.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 21.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Over five
    years</FONT></B></P></TD>
    <TD style="HEIGHT: 21.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Borrowings, financing and debentures (note
      12)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,447,583 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,895,328 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,623,536 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,470,967 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,437,414 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Leases (note 14 a)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>45,742</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>160,384</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>240,576</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>186,536</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>633,238</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments (note 13
      I)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade payables (note 13 I)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,228,213</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,228,213</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade payables </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; BACKGROUND: #dbe5f1" face=arial,sans-serif>&#8211; Drawee
      risk (note 13 I)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>300,947</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>300,947</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>IV - Fair values
of assets and liabilities as compared to their carrying amounts</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Financial assets
and liabilities measured at fair value through profit or loss are recorded in
current and noncurrent assets and liabilities and gains and losses are recorded
as financial income and expenses, respectively.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The amounts are
recorded in the financial statements at their carrying amount, which are
substantially similar to those that would be obtained if they were traded in the
market. The fair values of other long-term assets and liabilities do not differ
significantly from their carrying amounts, except for the amounts
below.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The estimated
fair values for certain 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, according
below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing
    Balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Fair value</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing
    Balance</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Fair
  value</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Perpetual bonds</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,902,004 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,378,781 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,880,074 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,850,615 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Fixed Rate Notes</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,670,258 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,178,616 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,745,132 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,595,765 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) Source: Bloomberg</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&#8226; Credit Risks</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The exposure to credit risks of financial institutions
complies with the parameters established in the financial policy. The Company
has as practice the detailed analysis of the patrimonial and financial situation
of its clients and suppliers, the establishment of a credit limit and the
permanent monitoring of its outstanding balance.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>With respect to financial investments, the Company only
makes investments in institutions with low credit risk rated by rating agencies.
Since part of the funds is invested in repo operations that are backed by
Brazilian government bonds, there is also exposure to the credit risk of the
Brazilian State.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 60</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_62></A>
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  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader62"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Regarding the exposure to credit risk in accounts
receivable and other receivables, the Company has a credit risk committee, in
which each new customer is analyzed individually regarding their financial
condition, before granting the credit limit and payment terms and periodically
revised, according to the periodicity procedures of each business
area.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&#8226; Capital Management</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company seeks to optimize its capital structure in
order to reduce its financial costs and maximize the return to its shareholders.
The table below shows the evolution of the Company's consolidated capital
structure, with financing by equity and third-party capital:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="53%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Thousands of reais</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="53%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Shareholder's equity (equity)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,250,388 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,013,440 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="53%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Borrowings and Financing (Third-party
      capital)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,302,694 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,827,074 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="53%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Gross Debit/Shareholder's equity</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2.76 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2.88
</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>14.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>OTHER PAYABLES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The group of other payables classified in current and
noncurrent liabilities is comprised as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp; </FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif><STRONG>Current</STRONG></FONT></P></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" width="9%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Payables to related parties (note 18
a)</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,773 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,499 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>79,182 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>96,629 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>316,421 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>308,056 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,501
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Dividends and interest on capital payable (Note 13
      I) </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>932,005 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>932,005 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>900,541 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>900,541 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Advances from customers (1)</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 563,002 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>137,418 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,469,166 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>75,843 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>64,416 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Taxes in installments</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 19,644 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20,179 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>72,452 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>73,934 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,767 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,756 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,273 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,378
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Profit sharing - employees</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 154,231 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>113,219 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>96,431 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>72,555 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Taxes
      payable</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8,646 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8,631 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,159 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,145
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Provision for consumption and services</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>343,491 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>334,638 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>280,446 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>260,942 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Third
      party materials in our possession</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>74,597 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>45,915 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>74,366 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>45,721 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trade
      payables - drawee risk (2)</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      300,947 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,766
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>300,947
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,766
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Lease
      Liabilities (note 14 a)</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      45,742 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>587,496
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>20,453
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>35,271
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other
      payables</FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      74,311 </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>85,984
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>42,230
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>48,134
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>17,114
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>17,551
      </FONT></P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.9pt">
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,530,746 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,770,623 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,259,172 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>227,328
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,092,329 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,745,304 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      44,703 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>24,024
      </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>(1) </FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Glencore Advance:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif> On March 29, 2019, the Company received in advance
through its subsidiary CSN Minera&#231;&#227;o the amount of U $ 496 million (R $ 1,951
billion) related to a supply contract of approximately 22 million tons of ore to
the Swiss trader Glencore International AG ("Glencore"), to be executed within 5
years.</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>(2) </FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Trade Payables</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif> &#8211; Drawee risk: The Company negotiated with financial
institutions to anticipate payments from its suppliers, with the objective of
lengthening the deadlines. This financial modality is an option of suppliers,
and does not require mandatory participation, nor is the Company not reimbursed
and / or benefited by the financial institution of discounts for payment
executed before the due date agreed with the supplier, there is no change in the
degree of subordination of the security in case of judicial execution and no
changes in the commercial conditions existing between the Company and its
suppliers. The balance on March 31, 2019 of suppliers that benefited from this
modality corresponds to R $ 300,947 (R $ 65,766 on December 31,
2018).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>14.a.) LEASE LIABILITIES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>In the
quarter, the lease liabilities are presented as follows:</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>First
      adoption</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>First
      adoption</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Leases</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,521,765</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,533,556</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>64,801</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>71,114</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Present value adjustment - Leases</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(888,527)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(892,567)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(9,077)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(10,042)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>633,238</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>640,989</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>55,724</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>61,072</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Classified:</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>45,742</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>39,243</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,453</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>21,390</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Non-current</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>587,496</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>601,746</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>35,271</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>39,682</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>633,238</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>640,989</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>55,724</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>61,072</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.1pt">
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD></TR></TABLE></DIV>
<a name="_bclFooter62"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 61</FONT></P></DIV>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader63"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>The Company has lease
agreements for port operations, machinery and facilities, vehicles,
administrative and operational real estate. Lease liabilities are guarantee by
the underlying assets. The amount of interest recognized in the financial result
for the period ended March 31, 2019 in the consolidated was R$4,9 million and in
the parent company was R$ 965 thousand.</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>The minimum
future lease payments as of March 31, 2019 are as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 22.5pt">
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Less than
      one year </FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Between one and five years </FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Over five years </FONT></B></P></TD>
    <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Total
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>&nbsp;Leases </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,211</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>968,970</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>472,584</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,521,765</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>&nbsp;Present value adjustment - Leases
    </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(34,469)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(568,010)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(286,048)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(888,527)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>45,742</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>400,960</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>186,536</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>633,238</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 3.95pt">
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 3.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR></TABLE></DIV>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt 25.5pt; TEXT-INDENT: -22.65pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif>Payments of leases not recognized as
liabilities:</FONT></B></P>
<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>The Company chose not to recognize lease liabilities in
contracts with a maturity of less than twelve months and for assets with low
value.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>The payments made for these contracts and for the variable
portion of the lease agreements are recognized as expenses when
incurred.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>Expenses related to payments not included in the
measurement of a lease liability are:</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Contract less than 12 months </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,244 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Lower Assets value </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>&nbsp; 426 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Variable lease payments </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>39,675 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,593 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>43,345 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,593 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 6pt">
    <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">&nbsp;</TD>
    <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>
    <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>15.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>INCOME TAX AND SOCIAL CONTRIBUTION </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>15.a) Income tax and social contribution recognized in
profit or loss:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>The income tax and social contribution recognized in
profit or loss for the year are as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Income tax and social contribution income
      (expense)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(369,818)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(119,914)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Deferred</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(89,039)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(438,797)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,256)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(459,650)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(458,857)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(558,711)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,245)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(459,650)</FONT></B></P></TD></TR></TABLE></DIV>
<a name="_bclFooter63"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" size=3 face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 62</FONT></P></DIV>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_64></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader64"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The reconciliation of consolidated and parent company
income tax and social contribution expenses and the result from applying the tax
rate to profit before income tax and social contribution are as
follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=4>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Parent
      Company</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid" width="11%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Profit before income tax and social
      contribution</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>545,620 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,045,206</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>37,673 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,931,513</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Tax rate</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34%</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34%</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34%</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Income tax and social contribution at combined
      statutory rate</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(185,511)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(695,370)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(12,809)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(656,714)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Adjustment to reflect the effective
      rate:</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Equity in results of
      affiliated companies</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,782 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,448</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>186,820 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,798</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Profit with differentiated
      rates or untaxed</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(47,576)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(42,380)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Transfer pricing
      adjustment</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(8,574)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(9,546)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Tax loss carryforwards
      without recognizing deferred taxes</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(8,866)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(9,451)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Indebtdness
    limit</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6,715)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(7,800)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6,715)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(7,800)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Unrecorded deferred taxes on
      temporary differences</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,735)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>470</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(Losses)/Reversal for
      deferred income and social contribution tax credits</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(211,848)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>193,827</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(211,848)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>193,827</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Deferred taxes on foreign
      profit</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(14)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(554)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Tax incentives</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,462 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,379</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Other permanent deductions
      (additions)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,262)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,266</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(693)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,239</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Income tax and social contribution in profit for the
      period</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(458,857)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(558,711)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,245)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(459,650)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Effective tax rate</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>84%</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>27%</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>120%</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24%</FONT></B></P></TD></TR>
  <TR>
    <TD width="46%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>15.b) Deferred income tax and social
contribution:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Deferred income tax and social contribution are calculated
on income tax and social contribution losses and the corresponding temporary
differences between the tax bases of assets and liabilities and their carrying
amounts in the financial
statements:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Opening
    balance</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Movement</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing
    balance</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Shareholders'<BR>Equity</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>P&amp;L</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Others</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">&nbsp;</TD>
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Income tax
    losses</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 959,240 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 199,883 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 6,408 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,165,531 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Social contribution tax
      losses</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 367,358 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 71,959 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 2,492 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 441,809
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Temporary
      differences</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,838,935)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 2,934
    </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (360,881)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
    (8,900)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,205,782)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 22.5pt">
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Provision for tax. social
      security, labor, civil and environmental risks</FONT></P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>267,237
      </FONT></P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (41,056)</FONT></P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 226,181
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Provision for environmental
      liabilities</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 67,143 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (2,105)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 65,038
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Asset impairment
      losses</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 81,341 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (4,558)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 76,783
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Inventory impairment
      losses</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 38,760 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>568 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 39,328
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- (Gains)/losses on financial
      instruments</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,319)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (1,367)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (4,686)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- (Gains)/losses on financial
      assets recognized at fair value thought profit or loss. </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>363,095
      </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (43,402)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 319,693
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Actuarial liability
      (pension and healthcare plan)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>276,032
      </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 276,032
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Accrued supplies and
      services</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 95,644 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 5,466 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 101,110
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Allowance for doubtful
      debts</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 61,415 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (7,230)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 54,185
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Unrealized exchange
      differences (1)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,010,532 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (11,662)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 998,870
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- (Gain) on loss of control
      over Transnordestina </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(92,180)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (92,180)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Cash flow hedge accounting
      </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 490,041 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (56,364)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 433,677
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Aquisition Fair Value
      SWT/CBL </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(172,114)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 2,050 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 5,994 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (164,070)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Deferred taxes non computed
      </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
(252,940)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (11,326)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (8,900)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (273,166)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Estimated (Losses)/
      reversals to deferred taxes credits </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,086,572)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 56,364 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
(211,848)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,242,056)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Business Combination
      </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,030,812)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 1,836 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,028,976)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Others </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 47,762 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>884 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (40,191)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 8,455
</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif> </FONT></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (512,337)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 2,934
      &nbsp;</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (89,039)&nbsp;</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (598,442)&nbsp;</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">&nbsp;</TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total Deferred
      Assets </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 89,394 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 69,465
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total Deferred
      Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
(601,731)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
  (667,907)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total
    Deferred</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (512,337)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (598,442)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD></TR></TABLE></DIV>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" size=3 face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 63</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_65></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader65"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>(1) The Company taxes exchange differences on a cash basis
to calculate income tax and social contribution on net income.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Opening
    balance</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" colSpan=4>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Movement</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Closing
    balance</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 14.55pt">
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Shareholders'<BR>Equity</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>P&amp;L</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 14.55pt">
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 14.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred tax assets</FONT></B></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Income tax
    losses</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 834,141 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 192,634 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,026,775 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Social contribution tax
      losses</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 322,283 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 69,348 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 391,631
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Temporary
      differences</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,173,858)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (307,238)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,481,096)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 22.6pt">
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Provision for tax. social
      security, labor, civil and environmental risks</FONT></P></TD>
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>210,382
      </FONT></P></TD>
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (41,129)</FONT></P></TD>
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 22.6pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 169,253
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Provision for environmental
      liabilities</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 64,906 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (1,776)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 63,130
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Asset impairment
      losses</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 57,444 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (4,469)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 52,975
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Inventory impairment
      losses</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 15,326 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(521)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 14,805
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(Gain)/loss in financial
      instruments</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,319)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (1,367)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
  (4,686)</FONT></P></TD></TR>
  <TR style="HEIGHT: 21.85pt">
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- (Gains)/losses on financial
      assets measured at fair value through profit or loss</FONT></P></TD>
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>363,095
      </FONT></P></TD>
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (43,402)</FONT></P></TD>
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 319,693
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 21.85pt">
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Actuarial liability
      (pension and healthcare plan)</FONT></P></TD>
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>279,132
      </FONT></P></TD>
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 21.85pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 279,132
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Accrued supplies and
      services</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 84,509 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 5,123 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 89,632
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Allowance for doubtful
      debts</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 45,565 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (7,341)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 38,224
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Unrealized ex change
      differences (1)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,014,309 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (11,447)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,002,862 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- (Gain) on loss of control
      over Transnordestina</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(92,180)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
  (92,180)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Cash flow hedge
      accounting</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 490,041 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;
      (56,364)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 433,677
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 23.3pt">
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Estimated (losses)/
      reversals to deferred taxes credits</FONT></P></TD>
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,086,572)</FONT></P></TD>
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp; 56,364
      </FONT></P></TD>
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
(211,848)</FONT></P></TD>
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 23.3pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,242,056)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Business
      Combination</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
(699,383)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
  (699,383)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Deferred Income and social
      contribution on Business Combination of CGPAR</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(22,609)</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(22,609)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.55pt">
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>- Other</FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 105,496 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 10,939 </FONT></P></TD>
    <TD style="HEIGHT: 12.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.55pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 116,435
  </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
    (17,434)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
    (45,256)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
    (62,690)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.65pt">
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 10.9pt">
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Deferred
      tax liabilities</FONT></P></TD>
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (17,434)</FONT></P></TD>
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
  (62,690)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.65pt">
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
    (17,434)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
    (62,690)</FONT></B></P></TD></TR>
  <TR>
    <TD width="35%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD></TR></TABLE></DIV>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 64</FONT></P></DIV>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader66"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" size=3 face="Times New Roman"></FONT>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(1) The Company taxes exchange differences on a cash
basis to calculate income tax and social contribution.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>In its corporate structure, the Company has foreign
subsidiaries whose profits are subject to income tax in the countries where they
were established at rates lower than those prevailing in Brazil. In the period
from 2014 to 2019, these foreign subsidiaries generated profits amounting to R$
1,150,443. If the tax authorities understand that these profits are subject to
additional taxation in Brazil in respect of income tax and social contribution,
these, if due, would total approximately R$ 366,847. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>The Company, based on its legal counsel&#8217;s opinion,
assessed as possible the likelihood of loss in the event of challenge by the tax
authorities and, therefore, no provision was recognized in the financial
statements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>15.c) Income tax and social contribution recognized in
shareholders' equity:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The income tax and social contribution recognized directly
in shareholders' equity are as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#333333 face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#333333 face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 14.1pt">
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=#333333 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Income tax and social contribution</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Actuarial gains on defined
      benefit pension plan</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>176,730 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>176,700 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>180,048 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>180,048 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Estimated losses for deferred
      income and social contribution tax credits - actuarial gains</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(180,048)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(180,048)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(180,048)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(180,048)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Exchange differences on
      translating foreign operations </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(325,350)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(325,350)
      </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(325,350)
      </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(325,350)
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Cash flow hedge
      accounting</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>433.677</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>490.041</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>433.677</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>490.041</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Estimated losses for deferred
      income and social contribution tax credits - cash flow hedge</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(433.677)</FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif> </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(490.041)</FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif> </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(433.677)</FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif> </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(490.041)</FONT><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif> </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(328.668)</FONT></B><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif> </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(328.698)</FONT></B><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif> </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(325.350)</FONT></B><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif> </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(325.350)</FONT></B><B><FONT style="FONT-SIZE: 7pt" color=black face=arial,sans-serif> </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>PROVISION FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND
ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Are being discussed in the competent spheres, actions and
complaints of various natures. The details of the provisioned amounts and the
related judicial deposits are presented below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11pt">
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.45pt">
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Accrued
      liabilities</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Judicial
      deposits</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Accrued
      liabilities</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Judicial
      deposits</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.45pt">
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12.45pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.45pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Tax</FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>118,123 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>118,490 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>52,371 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>46,321 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48,287 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48,789 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34,216 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>27,493 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11pt">
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Social security</FONT></P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>68,938 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>70,084 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>50,898 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>50,898 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>68,397 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>67,978 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>50,898 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>50,898 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11pt">
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Labor</FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>348,209 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>362,228 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>219,592 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>214,625 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>261,151</FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>277,590 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>167,249 </FONT></P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>162,870 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Civil</FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>151,384 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>210,264 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>22,706 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>22,024 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>124,398 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>180,546 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12,553 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11,871 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Environmental</FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34,857 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>31,390 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,084 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,900 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>31,271 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,030 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,084 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,900 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Deposit of a
      guarantee</FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11,716 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12,182 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>563 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>721,511 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>792,456 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>359,367 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>347,950 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>533,504 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>602,933 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>267,000 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>255,595
  </FONT></B></P></TD></TR></TABLE></DIV>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Classification</FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
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      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Current</FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>106,140 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>106,503 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>63,839 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>64,856 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
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      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif>Non-current</FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>615,371 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>685,953 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>359,367 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>347,950 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>469,665 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>538,077 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>267,000 </FONT></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255,595
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.75pt">
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 6pt"><FONT style="FONT-SIZE: 6pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>721,511 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>792,456 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>359,367 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>347,950 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>533,504 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>602,933 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>267,000 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.75pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>255,595 </FONT></B></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="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The movement in the provision for tax, social security,
labor, civil and environmental risks in the period ended March 31, 2019 is as
follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 13pt">
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.8pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current +
      Non-current</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 27.65pt">
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Nature</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Additions</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net update on
      amount</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net utilization of
      reversal</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 14.05pt">
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Tax</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>118,490 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>16,815 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,006 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (18,188)</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>118,123 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.05pt">
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Social security</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>70,084 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,419 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 363 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (3,928)</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>68,938 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.05pt">
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Labor</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>362,228 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,613 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,304 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (41,936)</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>348,209 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.05pt">
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Civil</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>210,264 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,566 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,612 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (72,058)</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>151,384 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.05pt">
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Environmental</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>31,390 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 670 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,842 </FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45)</FONT></P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.05pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34,857 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.05pt">
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>792,456 </FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>36,083 </FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>29,127 </FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (136,155)</FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>721,511 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.3pt">
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 7.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 13.2pt">
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" colSpan=3>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.35pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current +
      Non-current</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 28.1pt">
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Nature</FONT></B></P></TD>
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 28.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Additions</FONT></B></P></TD>
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 28.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net update on
      amount</FONT></B></P></TD>
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net utilization of
      reversal</FONT></B></P></TD>
    <TD style="HEIGHT: 28.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 28.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Tax</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48,789 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>14,740 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 328 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (15,570)</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48,287 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Social security</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>67,978 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,878 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 363 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (1,822)</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>68,397 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Labor</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>277,590 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,019 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>13,860 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (36,318)</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>261,151 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Civil</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>180,546 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,058 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,477 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; (67,683)</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>124,398 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Environmental</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,030 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp; 670 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,615 </FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(44)</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>31,271 </FONT></P></TD></TR>
  <TR style="HEIGHT: 14.05pt">
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>602,933 </FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>31,365 </FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,643 </FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;
      (121,437)</FONT></B></P></TD>
    <TD style="HEIGHT: 14.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.05pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>533,504
  </FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The provision for tax, social security, labor, civil and
environmental risks was estimated by Management and is mainly based on the legal
counsel&#8217;s assessment. Only lawsuits for which the risk is classified as probable
loss are provisioned. Additionally, this tax provisions, subject to SELIC
(Central Bank&#8217;s policy rate).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" size=3 face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 66</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_68></A>
<a name="_bclPageBorder68"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader68"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=wingdings>&#167;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Possible administrative and judicial
proceedings</FONT></U></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The table below shows a summary of the main matters
classified as possible risk compared with the balances as of March 31, 2019 and
December 31, 2018. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Income
      tax / Social contribution - Assessment Notice and imposition of fine
      (AIIM) - Capital gain for an alleged sale of the shares of its subsidiary
      NAMISA.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>11,953,102 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>11,812,071 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Notice
      of Infringement and Fine Taxation - Income taxes and Social contribution -
      Glossary of goodwill deductions generated by the reverse merger of Big
      Jump by NAMISA</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,756,021 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,722,888 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assessment Notice and Imposition of fine (AIIM) -
      Income tax/ Social contribution - gloss of interest on prepayment arising
      from supply contracts of iron ore and port<BR>services</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,184,465 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,165,088 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Notices
      of violation and imposition of fine - Income taxes and social contribution
      due to profits from foreign subsidiaries (years 2008,2010 and 2011)
      (1)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,905,190 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,891,149 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Tax
      foreclosures - ICMS - Electricity credits</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>985,687 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      974,479 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Offset
      of taxes that were not approved by the Federal Revenue Service -
      IRPJ/CSLL, PIS/COFINS e IPI</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,614,883 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,481,382 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Disallowance of the ICMS credits - Transfer of iron
      ore</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>535,571 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      529,607 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>ICMS -
      Refers to the transfer of imported raw material at an amount lower than
      the price disclosed in the import documentation</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>298,256 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      294,527 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Disallowance of the tax losses arising on
      adjustments to the SAPLI</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>521,586 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      516,583 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assessment Notice- Income tax- Capital Gain of CFM
      vendors located outside</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>245,777 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      243,007 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>CFEM -
      Divergence on the understanding between CSN and DNPM on the calculation
      basis</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>315,673 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      311,582 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Infraction Notice - ICMS - Question on sales to
      Incentivized Zone</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>986,214 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      976,438 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other
      tax (federal, state, and municipal) lawsuits</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,593,808 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,625,167 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Social
      security lawsuits</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      289,676 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      287,823 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Law suit
      applied by Brazilian antitrust authorities (CADE)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>102,743 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      101,683 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other
      civil lawsuits</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      965,151 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      922,171 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Labor
      and social security lawsuits</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,567,554 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,537,078 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Tax
      foreclosures - Fine of Volta Grande IV</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>79,984
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>75,530
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="76%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Others
      Enviromental lawsuits</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      167,787 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      144,235 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>32,069,128 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>31,612,488 </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The assessments made by the legal counsel define these
administrative and judicial proceedings as entailing risk of possible loss and,
therefore, no provision was recognized in conformity with Management&#8217;s judgment
and accounting practices adopted in Brazil.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 67</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_69></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader69"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>17.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET
RETIREMENT OBLIGATIONS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>The information on provision for environmental liabilities
and asset retirement obligations has not changed in relation to that disclosed
in the Company's financial statements as of December 31, 2018 and, accordingly,
the Company decided not to repeat it in the condensed interim financial
information as of March 31, 2019. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The balance of
the provision for environmental liabilities and asset retirement obligation
(ARO) is as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Environmental liabilities</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>192,175 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>198,386 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>185,991 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>191,216 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Asset retirement obligations</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>97,183 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>83,380 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>735 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>668 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>289,358 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>281,766 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>186,726 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>191,884
  </FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" size=3 face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 68</FONT></P></DIV>
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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<a name="_bclHeader70"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>18.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>RELATED-PARTY BALANCES AND TRANSACTIONS </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The information on related-party transactions has not changed significantly in relation to that disclosed in the Company's financial statements as of December 31, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>18.a) Transactions with subsidiaries, joint ventures, associates, exclusive funds and other related parties</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>By transaction</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated</FONT></B></P>

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   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade receivables(note 6)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>185,600 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>93,317 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>185,600 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>93,317 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Dividends receivable (note 8)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48,315 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>46,171 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48,315 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>46,171 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Actuarial asset (note 8)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>93,757 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>99,894 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>93,757 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>99,894 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial investments/ investments</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>100,871 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>92,332 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>100,871 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>92,332 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Loans (note 8)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,710 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,675 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>744,364 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>706,605 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>747,074 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>709,280 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other receivables (note 8)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,202 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,649 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>218,840 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>218,840 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>222,042 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>222,489 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>340,698 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>238,144 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,056,961 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,025,339 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,397,659 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,263,483 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other payables (Note 14)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Accounts payable</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>21,182 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>29,286 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>79,182</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>96,629</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>100,364 </FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>125,915 </FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Accrued supplies and services</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,591</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,213</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,591</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,213</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>118,329 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>135,801 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>118,329 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>135,801 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Actuarial liabilities</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,982 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,982 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,982 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7,982 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>141,102 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>171,300 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>87,164 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>104,611 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>228,266 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>275,911 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>0</FONT>3/31/2018</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>P&amp;L</FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Revenues</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>264,366 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>293,123 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Interest (note 24)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,161 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>14,225 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign exchange and monetary variations, net</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>504</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD width="25%"><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Expenses</FONT></B></P></FONT></TD>

   <TD width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

   <TD width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

   <TD width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

   <TD width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #dce6f1" width="25%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #dce6f1" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(345,387)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #dce6f1" width="12%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(295,724)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #ffffff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>Interest (note 24)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #ffffff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,735)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #ffffff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #ffffff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>Foreign exchange and monetary variations, net</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #ffffff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #ffffff; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(64,091)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #ffffff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #ffffff; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>11,624</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 69</FONT></P></DIV>

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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>By company</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;&nbsp; </FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=13 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="13%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" colSpan=9>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>P&amp;L</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sales</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Purchases</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Finance
      income(expenses),net</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Exchange
      rate variations, net</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Joint-venture and Joint-operation</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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      50,195 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>129,377
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,149
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,149
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>33,501
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(49,871)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (49,863)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Transnordestina Log&#237;stica S.A<SUP>
      (1)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,511
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      963,204 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      964,715 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      560 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>560
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>196
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2,021)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>13,887
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12,062
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>49,829
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      963,204 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,013,033 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      86,806 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      79,182 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>165,988
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>204
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(315,857)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>10,151
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (305,502)</FONT></B></P></TD></TR>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other related parties</FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></B></P></TD>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CBS Previd&#234;ncia</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>93,757
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>93,757
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      7,982 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      7,982 </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banco Fibra <SUP>(2)</SUP></FONT></P></TD>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>100,871
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,215
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>504
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,719
      </FONT></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      34,376 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>34,376
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(9)</FONT></P></TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (9)</FONT></P></TD></TR>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Panatl&#226;ntica <SUP>(3)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>140,748
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      140,748 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      19,325 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>19,325
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>262,931
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(26,213)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>236,718
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Ibis Participa&#231;&#245;es e Servi&#231;os</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(275)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(275)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other related parties</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,185
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,185
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      595 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>595
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,231 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(3,033)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,802)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>243,804
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>93,757
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      337,561 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      54,296 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      7,982 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>62,278
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>264,162
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(29,530)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,215
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>504
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>241,351
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Associates</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Arvedi Metalfer do Brasil S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>47,065
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>47,065
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>60
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>60
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total at 3/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>340,698
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,056,961 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,397,659 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      141,102 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      87,164 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>228,266
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>264,366
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(345,387)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>16,426
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>504
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (64,091)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total em 12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>238,144
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,025,339 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,263,483 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      171,300 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      104,611 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>275,911
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total em
      3/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>293,123
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(295,724)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,225
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>11,624
      </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Transnordestina Log&#237;stica S.A: </FONT><U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Assets:</FONT></U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif> Refers mainly to loan agreements in R$: Interest from
125.0% to 130.0% of the CDI. As of March 31, 2019, the loans amounted to
R$744,364 (R$706,605 as of December 31, 2018).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Banco Fibra S.A: </FONT><U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Assets:</FONT></U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif> Refers mainly to Eurobond from Fibra Bank with maturity
in February 2028.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>3.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Panatlantica: Receivables from the sale of steel
products.</FONT></P>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 70</FONT></P></DIV>
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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>By transaction</FONT></B></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Parent Company</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Trade receivables (1) (note 6)</FONT></P></TD>

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   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,182,272 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>906,865 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,182,272 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>906,865 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Dividends receivable (Note 8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>261,330 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>259,186 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>261,330 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>259,186 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Actuarial asset (note 8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>80,598 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>85,415 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>80,598 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>85,415 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Loans (note 8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>23,264 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>22,807 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>649,967 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>588,285 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>673,231 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>611,092 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Short-term investments / Investments (2)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>98,509 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>99,109 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>96,428 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>103,640 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>194,937 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>202,749 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other receivables (3) (note 8)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>15,493 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>15,395 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>463,182 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>458,177 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>478,675 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>473,572 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,580,868 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,303,362 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,290,175 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,235,517 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,871,043 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,538,879 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Borrowings and financing</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Prepayment (note 12)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,301,410 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,363,140 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,848,105 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,250,264 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,149,515 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,613,404 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Intercompany Bonds (nota 12)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,883 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,395 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>362,393 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>360,356 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>372,276 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>362,751 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Intercompany Loans (note 12)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,602,422 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,704,888 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>963,598 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,566,020 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,704,888 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,913,715 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,070,423 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,174,096 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,610,620 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,087,811 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,681,043 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other payables (Note 14)</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Accounts payable</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8,088 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8,060 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,501 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8,088 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>22,561 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Provision for consumption and services</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>308,333 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>299,996 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>308,333 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>299,996 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>503,261 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>344,076 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>503,261 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>344,076 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Actuarial liabilities</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>819,682 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>652,132 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>22,483 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>827,664 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>674,615 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>P&amp;L</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Revenues</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales/Others</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>764,532 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,058,449 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest (note 24)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>18,344 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,744 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Exclusive funds (note 24)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>683 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>44 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (643,306)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (487,690)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest (note 24)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71,100)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (100,913)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreing exchange and monetary variations, net</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(66,033)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5,561)</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,120 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479,073 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>

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<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Accounts receivable derive from sales operations of goods and services between the parent company, subsidiaries and joint ventures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Assets:</FONT></U><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif> Financial investments classified as current are investments in exclusive funds and in the Fibra Bank and in non-current assets, refers to interests in Usiminas, classified as investments measured at fair value through profit or loss.</FONT></P>

<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>3.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Non-current: Refers mainly to advances for future capital increases, dividends to be received and receivables from acquisition of debentures.</FONT></P>

<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 71</FONT></P></DIV>

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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>By company</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 0px; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="51%" colSpan=13 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Parent
      Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="16%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Assets</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="39%" colSpan=9>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>P&amp;L</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-current</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sales/Others</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Purchases</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Finance
      income(expenses),net</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Exchange
      rate variations, net</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD></TR>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subsidiaries</FONT></B></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Companhia Metal&#250;rgica Prada<SUP>
    (1)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>261,156
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>121,336
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>382,492
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,142
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,142
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>174,249
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (10,555)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>163,694
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Estanho de Rond&#244;nia S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>22,156
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,766
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>23,922
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (9,906)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>395
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (9,511)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sepetiba Tecon S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12,252
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>102,570
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>114,822
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>29,837
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>29,837
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (16,871)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (16,871)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Min&#233;rios Nacional S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CSN Minera&#231;&#227;o S.A.<SUP>&nbsp;
(2)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>299,141
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>299,141
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>280,670
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>280,670
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>21,612
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (290,283)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (268,671)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CSN Energia S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,309
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,309
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>25
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>461,029
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,131,016 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,436,804 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(62,541)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (38,045)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (100,586)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CSN Steel Corp</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,166
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>894,377
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>899,543
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(8,201)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>16,844
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8,643
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Lusosider A&#231;os Planos, S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>210,458
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>210,458
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>123,782
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      532 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>124,314
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CSN Islands XI Corp. <SUP>(5)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>134,115
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>134,115
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      263 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      263 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CSN Islands XII Corp. <SUP>(6)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,468,288 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>876,078
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,344,366 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (50,482)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (50,482)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Companhia de Embalagens Met&#225;licas MMSA
</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>16
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>16
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Companhia Florestal do Brasil</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,103
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      500 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,603
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CSN Steel Holdings 1, S.L.U.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>89
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>68,156
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>68,245
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (89)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(332)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(421)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CSN Productos Sider. S.L.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      268 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>204,469
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>204,737
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (268)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,108)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,376)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,282,184 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>253,422
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,535,606 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,651,518 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,174,096 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,825,614 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>500,362
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (372,586)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(70,679)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
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      (9,440)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>23,091
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>23,091
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,039
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,039
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (89,697)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (89,697)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>CBSI - Companhia Brasileira de Servi&#231;os e
      Infraestrutura</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,149
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,149
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>23,910
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>23,910
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (34,322)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
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      (7)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      248 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>859,727
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>859,975
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>11,959
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>25,488
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>859,727
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>885,215
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>27,949
      </FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>27,949
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (124,027)</FONT></B></P></TD>
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      11,959 </FONT></B></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>80,598
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>80,598
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banco Fibra</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>90,838
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>90,838
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      5,904 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      504 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,408
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Usiminas</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp; -
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>34,376
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>34,376
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (119,955)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (119,955)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Panatl&#226;ntica <SUP>(8)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>140,748
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>140,748
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>19,325
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>19,325
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>262,931
      </FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (26,213)</FONT></P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>236,718
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      355 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
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      1,192 </FONT></P></TD>
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,192
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
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      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(275)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(275)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
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    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>39
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (79)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (40)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funda&#231;&#227;o CSN</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,829
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,829
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      229 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      229 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(171)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(171)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>233,770
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>80,598
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>314,368
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>53,930
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,982
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>61,912
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>264,162
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (146,693)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      5,904 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      504 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>123,877
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Associates</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Arvedi
      Metalfer do Brasil S.A.</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>31,754
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>31,754
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>60
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>60
      </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Exclusive funds</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Diplic, Caixa Vertice, VR1, BB Steel
      <SUP>(9)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,672
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>96,428
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>104,100
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>683
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      683 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total at
      3/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,580,868 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,290,175 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,871,043 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,733,397 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,182,078 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,915,475 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>764,532
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (643,306)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(52,073)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (66,033)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,120
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total at
      12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,303,362 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,235,517 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,538,879 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,722,555 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,633,103 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8,355,658 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total at
      03/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      1,058,449 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (487,690)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(86,125)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (5,561)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>479,073
      </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>1.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Companhia Metal&#250;rgica Prada: Refers mainly to receivables
in the amount of R$261,156 (254,464 as of December 31, 2018), and debentures
from the indirect subsidiary CBL in the amount of R$121,336 (R$ 121,336 as of
December 31,2018),</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>2.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>CSN
Minera&#231;&#227;o: Liabilities: Account payables related to purchases of iron ore and
port services in the amount of R$280,670 (R$ 119,952 as of December 31,2018).
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>3.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Companhia Siderurgica Nacional, LLC: Receivables of
R$461,029 (R$357,257 as of December 31, 2018), related to sale of steel for
resale. In the current liabilities, refers an expense with commission and
logistics on sales of steel for resale in the amount of R$ 311,887 (R$ 298,866
as of December 31,2018).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>4.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN Resources SA: Prepayment and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Fixed Rate Notes.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;As of March 31, 2019, the loans amounted to
R$5,436,804 (R$4,961,357 as of December 31, 2018).</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></I>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>5.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN Islands XI Corp.: </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Intercompany</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> contracts in US dollars. As of March 31, 2019, loans
total R$</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>134,115</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> (R$</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>179,677</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> as of December 31, 2018).</FONT></P>
<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>6.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN Islands XII Corp.: Refers mainly to prepayment
contracts and Intercompany contracts in dollar.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif> As of March 31, 2019, loans total R$2,344,366</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>(R$1,525,211 as of December 31, 2018). </FONT></P>
<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>7.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Transnordestina Log&#237;stica S.A. </FONT><U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Noncurrent assets</FONT></U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>: refers mainly to an intercompany contract in the amount
of R$640,887 (R$ 588,285 as of December 31,2018) and advance for future increase
capital in the amount of R$218,840 (R$218,840 as of December
31,2018).</FONT></P>
<P style="MARGIN: 0in 0in 0in 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>8.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Panatl&#226;ntica S.A: Current assets: refers to accounts
receivable for the supply of flat steel in the amount of R$ 140,748 (R$ 53,027
as of December 31,2018).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>9.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Exclusive funds: </FONT><U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Current assets:</FONT></U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> Refers mainly to investments in government securities and
CDBs, in the amount of R$</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>7,672 </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>(R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>6,989 </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>as of December 31, 2018). </FONT><U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Noncurrent assets:</FONT></U><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif> Refers to Usiminas S.A. shares in the amount of R$
</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>96,428 </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>(R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>103,640 </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>as of December 31,2018). The funds VR1 and Diplic II are
managed by Taquari Asset.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 72</FONT></P></DIV>
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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>18.b) Key management personnel</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The key management personnel with 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 March 31, 2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
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    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Statement of
      Income</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Short-term benefits for employees and
      officers</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,818 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,393 </FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Post-employment benefits</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>26 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>26 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,844 </FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,419
  </FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>SHAREHOLDERS&#8217; EQUITY</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.a) Paid-in capital</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Fully subscribed and paid-in capital as of March 31, 2019
and December 31, 2018 is R$4,540,000 comprising 1,387,524,047 book-entry common
shares without par value. Each common share entitles to one vote in resolutions
of the General Meeting. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.b) Authorized capital</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company&#8217;s bylaws in effect as of March 31, 2019
determine that the capital can be raised to up to 2,400,000,000 shares by
decision of the Board of Directors.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.c) Legal reserve</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>This reserve is recognized at the rate of 5% of the profit
for each period, as provided for by Article 193 of Law 6,404/76, up to the
ceiling of 20% of the share capital.&nbsp;&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.d) Ownership structure</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>As of March 31, 2019, the Company&#8217;s ownership structure
was as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<TABLE style="WIDTH: 100%" cellSpacing=0 border=0>

  <TR>
    <TD width="26%"></TD>
    <TD width="16%"></TD>
    <TD width="9%"></TD>
    <TD width="12%"></TD>
    <TD width="13%"></TD>
    <TD width="9%"></TD>
    <TD width="11%"></TD></TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>03/31/2019</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>12/31/2018</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>Number of</FONT></B>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>Number of</FONT></B>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>% of
total</FONT></B>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>% of
    voting</FONT></B>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>% of
total</FONT></B>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>% of
    voting</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>common</FONT></B>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>common</FONT></B>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD style="TEXT-INDENT: 4.02pt" align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>shares</FONT></B>&nbsp;</TD>
    <TD style="TEXT-INDENT: 8.699pt" align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>capital</FONT></B>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD style="TEXT-INDENT: 4.02pt" align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>shares</FONT></B>&nbsp;</TD>
    <TD style="TEXT-INDENT: 8.759pt" align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>capital</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double; TEXT-INDENT: 10.087pt" align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>shares</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=center>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=center>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double; TEXT-INDENT: 10.112pt" align=center><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>shares</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=center>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=center>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD bgColor=#dce6f1 align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Vicunha A&#231;os S.A.
(*)</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>679,522,254</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>48.97%</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>49.24%</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>679,522,254</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>48.97%</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>49.24%</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Rio Iaco
      Participa&#231;&#245;es S.A. (*)</FONT>&nbsp;</TD>
    <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>58,193,503</FONT>&nbsp;</TD>
    <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.19%</FONT>&nbsp;</TD>
    <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.22%</FONT>&nbsp;</TD>
    <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>58,193,503</FONT>&nbsp;</TD>
    <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.19%</FONT>&nbsp;</TD>
    <TD align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>4.22%</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD bgColor=#dce6f1 align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>NYSE (ADRs)</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>284,152,319</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>20.48%</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>20.59%</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>284,152,319</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>20.48%</FONT>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>20.59%</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Other shareholders</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>358,246,471</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>25.82%</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>25.95%</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>358,246,471</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>25.82%</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>25.95%</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-INDENT: 2.64pt" bgColor=#dce6f1 align=left><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>Total outstanding
      shares</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>1,380,114,547</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>99.47%</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>100.00%</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>1,380,114,547</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>99.47%</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>100.00%</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 3px double; TEXT-INDENT: 0pt" align=left><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>Treasury
      shares</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,409,500</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.53%</FONT>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>7,409,500</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT size=1 face=Arial,Arial,Helvetica,sans-serif>0.53%</FONT>&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-INDENT: 0.001pt" bgColor=#dce6f1 align=left><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>Total
      shares</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>1,387,524,047</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>100.00%</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=left>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>1,387,524,047</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=right><B><FONT size=1 face=Arial-BoldMT,Arial,Helvetica,sans-serif>100.00%</FONT></B>&nbsp;</TD>
    <TD bgColor=#dce6f1 align=left>&nbsp;</TD></TR></TABLE>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) Controlling group companies.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.e) Treasury shares</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 73</FONT></P></DIV>
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    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Board of Directors authorized various share buyback
programs to hold shares in treasury for subsequent disposal and/or cancelation
with a view to maximizing the generation of value to the shareholder through an
efficient capital structure management, as shown in the table below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Program</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Board&#8217;s
      Authorization</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Authorized quantity</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Program
      period</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Average
      buyback price</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Minimum
      and maximum buyback price</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Number
      bought back</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Share
      cancelation</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sale of
      shares</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Balance
      in treasury</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3/13/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>70,205,661 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      3/14/2014 to 4/14/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      9.34 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      9,22 e R$ 9,45</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,350,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,350,000 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4/15/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>67,855,661 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      4/16/2014 to 5/23/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      8.97 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      8,70 e R$ 9,48</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>9,529,500 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      11,879,500 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5/23/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>58,326,161 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      5/26/2014 to 6/25/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      9.21 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      8,61 e R$ 9,72</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>31,544,500 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      43,424,000 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6/26/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>26,781,661 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      6/26/2014 to 7/17/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      10.42 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      9,33 e R$ 11,54</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>26,781,661 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      70,205,661 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7/18/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Not
      applicable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Not
      applicable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>60,000,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1)</FONT></SUP></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      10,205,661 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7/18/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>64,205,661 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      7/18/2014 to 8/18/2014 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      11.40 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      11.40 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      240,400 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      10,446,061 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8/18/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Not
      applicable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Not
      applicable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>10,446,061 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1)</FONT></SUP></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8/18/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>63,161,055 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      8/19/2014 to 9/25/2014 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      9.82 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      9,47 e R$ 10,07</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,791,300 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,791,300 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9/29/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>56,369,755 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      9/29/2014 to 2/29/2014 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      7.49 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      4,48 e R$ 9,16</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>21,758,600 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      28,549,900 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8&#186;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/30/2014</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>34,611,155 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      12/31/2014 to 3/31/2015 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      5.10 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$
      4,90 e R$ 5,39</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,841,100 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      30,391,000 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>9&#186;
      (*)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2015</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>32,770,055 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      4/01/2015 to 6/30/2015 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      30,391,000 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>04/20/2018</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>30,391,000 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>From
      4/20/2018 to 4/30/2018</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>Not
      applicable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8.5pt; LINE-HEIGHT: normal" face=arial,sans-serif>Not
      applicable</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=center>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      22,981,500 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,409,500 </FONT></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;(*) There
was no share buyback in this program.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>In
2014, the Board of Directors approved the cancellation of 70,446,061 shares held
in treasury without changing the value of the Company's capital
stock.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>In
April 2018, the Board of Directors authorized the sale of up to 30,391,000
common shares held in treasury. Until the end of the program, 22,981,500 shares
were sold for R$ 213,494.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The
Company recognized the amount of R $ 32,690 related to the profit on the sale of
the shares.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As of March 31,
2019, the position of the treasury shares was as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Quantity purchased
      (Units)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Amount paid for
      the shares</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="44%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Share price</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="20%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Market price of
      the shares on 03/31/2019 (*)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Minimum</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Maximum</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Average</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      7,409,500 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><SUP><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></SUP>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>R$ 58,264 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;R$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.48
      </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;R$ 10.07 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>&nbsp;R$ 7.86 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>R$ 120,034
  </FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) The last share average quotation on B3 &#8211; S.A. -
Brasil, Bolsa, Balc&#227;o as of March 31, 2019 was used in the amount of R$ 16.20
per share. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.f) Policy on investments and payment of interest on
capital and dividends </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company adopts a profit distribution policy which, in
compliance with the provisions in Law 6,404/76, as amended by Law 9,457/97, will
entail to the destination of all the profit to the Company&#8217;s shareholders,
provided that the following priorities are observed, irrespective of their
order: (i) carrying out the business strategy; (ii) fulfilling its obligations;
(iii) making the required investments; and (iv) maintaining a healthy financial
situation of the Company.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>19.g) Earnings/(loss) per share: </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Basic
earnings/(loss) per share were calculated based on the profit/loss attributable
to the owners of CSN divided by the weighted average number of common shares
outstanding during the year, excluding the common shares purchased and held as
treasury shares, as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 9.95pt">
    <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 9.95pt">
    <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">&nbsp;</TD>
    <TD style="HEIGHT: 9.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 9.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 15.8pt">
    <TD style="HEIGHT: 15.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">&nbsp;</TD>
    <TD style="HEIGHT: 15.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Common Shares</FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Profit for the year</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(7,572)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,471,863</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Weighted average number of shares</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,373,250,595</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,357,133,047</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Basic and diluted EPS</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(0,00551)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,08454</FONT></B></P></TD></TR></TABLE><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 74</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_76></A>
<a name="_bclPageBorder76"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader76"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company does not hold potential dilutable ordinary
shares outstanding that could result in dilution of earnings per
share.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>20.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>PAYMENT TO SHAREHOLDERS </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The Company's
bylaws provide for the distribution of minimum dividends of 25% of adjusted net
income under the law, to the holders of its shares.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Dividends are
calculated in accordance with the Company's Bylaws and in accordance with the
Brazilian Corporate Law.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>The following
table shows the history of dividends approved and paid:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 22.5pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Approval
    Year</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=center>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.5pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Dividends</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2019 (*)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      898,332</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total
    approved</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=center>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 898,332
      </FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif>(*)
According to the Ordinary General Meeting (AGO) held on April 26, 2019,
dividends will be paid in national currency until December 31, 2019, without
monetary adjustment, in one or more installments, according to cash
availability. The procedure for payment of declared dividends will be informed
in Notice to Shareholders to be timely disclosed by the Company.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>21.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>NET SALES REVENUE</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Net sales revenue is comprised as follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 14.1pt">
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated </FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 14.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Parent Company
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Gross
    revenue</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Domestic market</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,563,173 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,302,143 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,418,248 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,172,428 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Foreign market</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,293,102 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,609,288 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>390,842 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>623,481 </FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,856,275 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,911,431 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,809,090 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,795,909
  </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Deductions </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Sales returns and
      discounts</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(60,394)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(61,301)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(57,298)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(45,473)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Taxes on sales</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(790,415)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(784,180)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(730,575)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(721,459)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(850,809)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(845,481)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(787,873)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(766,932)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net revenue</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,005,466 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,065,950</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,021,217 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,028,977</FONT></B></P></TD></TR></TABLE><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 75</FONT></P></DIV>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_77></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader77"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>22.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>EXPENSES BY NATURE</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.85pt">
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    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Consolidated
      </FONT></B></P></TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
      Company&nbsp;</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.85pt">
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    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.85pt">
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.65pt">
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Raw materials and
      inputs</FONT></P></TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,797,797)</FONT></P></TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,551,131)</FONT></P></TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,762,660)</FONT></P></TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.65pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,328,974)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Labor cost</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(630,183)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(652,488)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(293,695)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(317,627)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Supplies</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(472,504)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(405,762)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(349,240)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(289,716)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Maintenance cost (services
      and materials)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(322,986)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(290,572)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(167,491)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(159,510)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Outsourcing
      services</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(540,677)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(887,224)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(204,884)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(322,033)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Freights</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(468,754)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(338,955)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(70,770)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(84,976)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Depreciation, amortization
      and depletion</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(306,166)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(305,175)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(157,112)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(142,547)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Others</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(176,093)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(156,467)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,497)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,171)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,715,160)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,248,819)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,009,349)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,565,578)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 6.3pt">
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">&nbsp;</TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 6.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Classified as:</FONT></B></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cost of sales</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,021,495)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,684,743)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,833,088)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,337,373)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Selling
expenses</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(573,484)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(456,503)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(120,144)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(154,662)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>General and administrative
      expenses</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(120,181)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(107,573)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(56,117)</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(73,543)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><I><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">
      <P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,715,160)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,248,819)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,009,349)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.45pt; BACKGROUND: #dbe5f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,565,578)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.5pt">
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Additions to depreciation, amortization and depletion for
the period were distributed as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Production costs</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>298,665 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>298,344</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>152,637 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>137,761</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Sales expenses</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,279 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,643</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>978 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,238</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>General and Administrative Expenses</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,222 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,188</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,497 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,548</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>306,166 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>305,175</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>157,112
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>142,547</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other operating expenses (*)</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>21,904 </FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,697</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>895
</FONT></P></TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 12.95pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.95pt">
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>328,070 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>315,872</FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>158,007
      </FONT></B></P></TD>
    <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>142,547</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Refers mainly to the depreciation and amortization of
paralyzed assets, see note 23.</FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif> </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 76</FONT></P></DIV>
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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>23.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>OTHER OPERATING INCOME (EXPENSES)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Parent Company </FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.25pt">

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   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

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   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

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   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other operating income</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Indemnities/gains on lawsuits</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,287 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>546</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,255 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>397</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Rentals and leases</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,162 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>460</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,072 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>370</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Dividends received</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>380</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>380</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>PIS and COFINS to compensate (1)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>87,394</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>87,394</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Contractual fines</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>864 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,780</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>686 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>960</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Shares - VJR (Note 13 II)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>127,653 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,936,389</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>127,653 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,936,389</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other revenues</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,212 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,412</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>254 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>798</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>228,952 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,945,587</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>219,694 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,938,914</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other operating expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Taxes and fees</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,134)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,284)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,024)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,988)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Write-off/(Provision) of judicial deposits</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,989)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,993)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,978)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,431)</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Expenses with environmental liabilities, net</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(8,607)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,790)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,313)</FONT></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,473)</FONT></P></TD></TR>

<TR style="HEIGHT: 22.5pt">

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Expenses from tax, social security, labor, civil and environmental law suits</FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>46,416 </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(24,393) </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48,431 </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 22.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(22,490) </FONT></P></TD></TR>

<TR style="HEIGHT: 22.5pt">

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Depreciation of unused equipment and amortization of intangible assets (note 22)</FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(21,904)</FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(10,697) </FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(895)</FONT></P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Write- off of PPE and intagible assests (notes 10 and 11) </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13,712)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,780)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13,542)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(16)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated (Loss)/reversal in inventories</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(41,149)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6,191)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(8,935)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,762</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Idle inventories (2)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(67,261)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(67,261)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Studies and project engineering expenses </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4,919)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6,571)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(7,108)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,577)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Research and development expenses </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(349)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(958)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(349)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(958)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Advisory expenses </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(777)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(658)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Healthcare plan expenses </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(29,086)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(26,088)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(28,976)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(26,096)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Hedge cash flow realized (Note 13 b)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(184,217)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13,732)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(184,217)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13,732)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Other expenses </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(30,461)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(44,110)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13,428)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(28,863)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(364,372)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(148,659)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(284,595)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(103,815)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8.05pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;Other operating expenses, net </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(135,420)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,796,928</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(64,901)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,835,099</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.25pt">

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>Refers to non-inclusion of ICMS in the PIS and COFINS calculation basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Due to the reforms in blast furnace 3, there was unused capacity in which the volume of production was below normal.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>24.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>FINANCIAL INCOME (EXPENSES)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent Company</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>

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<TR style="HEIGHT: 13.5pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Financial income</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.5pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Related parties (note 18 a)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,161 </FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>14,225</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>19,027 </FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>14,788</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income from short-term investments&nbsp; </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,110 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>27,168</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>13,406 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>15,178</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Outros rendimentos (1)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>71,043 </FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,503</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>68,937</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>360</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>111,314 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>42,896</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>101,370 </FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>30,326</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Borrowings and financing - foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(252,348)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(215,502)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(77,132)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(57,575)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Borrowings and financing - local currency</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(234,691)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(264,273)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(206,226)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(228,488)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Related parties </FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(71,100)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(100,913)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Capitalized interest (notes 10 and 27)</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>21,111 </FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,090</FONT></P></TD>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,419 </FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,594</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest, fines and late payment charges</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(58,234)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,034)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(56,966)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(455)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Commission and bank fees</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(44,183)</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(41,875)</FONT></P></TD>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(42,034)</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(37,928)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>PIS/COFINS over financial income</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,366)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(3,733)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5,342)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(2,798)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other financial expenses </FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(59,138)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(12,929)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(34,654)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,371</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(632,849)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(523,256)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(488,035)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(421,192)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Inflation adjustment and exchange differences, net</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Inflation adjustments, net</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(11,711)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,570</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(961)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11,179</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange rates, net</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(101,499)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(115,644)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(71,138)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13,175)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Exchange gain (losses) on derivatives</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(354)</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>730</FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(113,564)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(113,344)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(72,099)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,996)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Financial income (expenses), net</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(635,099)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(593,704)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(458,764)</FONT></B></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(392,862)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Statement of gains and (losses) on derivative transactions</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Dollar - to - euro swap</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(354)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>730</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(354)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>730</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Refers mainly to the monetary adjustment of the recognition of the non-inclusion of ICMS in the PIS and COFINS calculation basis in the amount of R$ 60,758.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>25.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>SEGMENT INFORMATION</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The segment information has not changed in relation to that disclosed in the Company's financial statements as of December 31, 2018. Therefore, management decided not to repeat it in this condensed interim financial information.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>According to the Group&#180;s structure, the businesses are distributed and managed in five operating segments as follows:</FONT></P>

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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
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    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="20%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>P&amp;L</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Steel</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Mining&nbsp;</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Energy</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Cement</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Corporate expenses/elimination</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Port</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Railroads</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Metric
      tons (thousand) (*)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,174,957 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8,989,033 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,299,148)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net
      revenues</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Domestic
      market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,567,293 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>245,075
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>51,584
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>334,995
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>70,014
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      119,845 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(628,717)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,760,089 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Foreign
      market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,037,967 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,833,736 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      373,674 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,245,377 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total
      net revenue (note 21)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,605,260 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,078,811 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>51,584
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>334,995
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>70,014
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      119,845 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(255,043)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,005,466 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Cost of
      sales and services</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(3,222,034)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (869,835)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (46,567)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (261,442)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (61,309)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(137,670)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      577,362 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (4,021,495)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Gross
      profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>383,226
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,208,976 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,017
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>73,553
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>8,705
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (17,825)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      322,319 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,983,971 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>General
      and administrative expenses</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (196,865)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (41,743)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (9,438)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;(27,424)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (6,981)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (20,835)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(390,379)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(693,665)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Depreciation (note 22)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>157,340
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>91,700
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,499
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>92,189
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,341
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>31,748
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (78,651)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      306,166 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Proportionate EBITDA of joint ventures</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>127,338 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      127,338 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Adjusted
      EBITDA</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>343,701
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,258,933 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,078
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>138,318
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,065
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (6,912)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (19,373)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,723,810 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sales by
      geographic area</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Asia</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 105 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,478,737 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 373,674 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,852,516 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>North
      America</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>135,788 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 135,788 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Latin
      America</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>49,044 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 49,044 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Europe</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>853,616 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>354,999 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,208,615 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Others</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(586)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(586)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Foreign
      market</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,037,967 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,833,736 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 373,674 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,245,377 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Domestic
      market</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,567,293 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>245,075 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>51,584 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>334,995 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>70,014 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 119,845 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(628,717)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,760,089 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,605,260 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,078,811 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>51,584 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>334,995 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>70,014 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 119,845 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(255,043)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,005,466 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>P&amp;L</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Steel</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Mining&nbsp;</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Logistics</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Energy</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Cement</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Corporate expenses/elimination</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Port</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Railroads</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Metric
      tons (thousand) (*)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,277,386 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,474,162 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (1,308,943)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net
      revenues</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Domestic
      market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,290,629 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>218,650
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,643
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>330,941
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>90,619
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      130,733 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(611,945)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,515,270 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Foreign
      market</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,383,668 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>932,944
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      234,068 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,550,680 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total
      net revenue (note 21)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,674,297 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,151,594 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,643
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>330,941
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>90,619
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      130,733 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(377,877)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,065,950 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Cost of
      sales and services</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(2,900,337)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (795,292)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (45,943)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (244,173)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (66,286)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(125,282)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      492,570 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (3,684,743)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Gross
      profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>773,960
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>356,302
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>19,700
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>86,768
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>24,333
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,451
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      114,693 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,381,207 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>General
      and administrative expenses</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (234,058)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (20,864)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (9,972)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (23,307)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;(6,933)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (19,974)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(248,968)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(564,076)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Depreciation (note 22)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>150,463
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>106,487
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,035
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>64,621
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>4,315
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>26,682
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (51,428)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      305,175 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Proportionate EBITDA of joint ventures</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>119,284 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      119,284 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Adjusted
      EBITDA</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>690,365
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>441,925
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>13,763
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>128,082
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>21,715
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12,159
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      (66,419)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,241,590 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sales by
      geographic area</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Asia</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      157 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>852,152
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      234,068 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,086,377 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>North
      America</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>430,706
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      430,706 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Latin
      America</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>105,557
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      105,557 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Europe</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>829,013
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>80,792
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      909,805 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Others</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>18,235
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      18,235 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Foreign
      market</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,383,668 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>932,944
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      234,068 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,550,680 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Domestic
      market</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,290,629 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>218,650
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,643
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>330,941
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>90,619
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      130,733 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(611,945)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>2,515,270 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,674,297 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>1,151,594 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>65,643
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>330,941
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>90,619
      </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;
      130,733 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(377,877)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap align=right>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>5,065,950 </FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face=arial,sans-serif>&nbsp;(*) The
ore sales volumes presented in this note take into consideration Company sales
and the interest in its subsidiaries and joint ventures.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Adjusted EBITDA</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Adjusted EBITDA is the main measurement through which the
chief operating decision maker assesses the segment performance and the capacity
to generate recurring operating cash, consisting of profit for the year less net
financial income (expenses), income tax and social contribution, depreciation
and amortization, equity in results, results of discontinued operations and
other operating income (expenses), plus the proportionate EBITDA of joint
ventures. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Even though it is an indicator used in segment
measurement, EBITDA is not a measurement recognized by accounting practices
adopted in Brazil or IFRS, it does not have a standard definition, and may not
be comparable with measurements using similar names provided by other companies.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 79</FONT></P></DIV>
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  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader81"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>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></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Profit for the year</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>86,763 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,486,495</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Depreciation/Amortization/Depletion (Note
      22)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>306,166 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>305,175</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Income tax and social contribution (note
      15)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>458,857 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>558,711</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Financial income (expenses) (note 24)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>635,099 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>593,704</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>EBITDA</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,486,885 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,944,085</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Other operating income (expenses) (note
      23)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>135,420 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(1,796,928)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Equity in results of affiliated companies (note
      9.b)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(25,833)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(24,851)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Proportionate EBITDA of joint ventures</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>127,338 </FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>119,284</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Adjusted EBITDA (*)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,723,810 </FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,241,590</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.25pt">
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%">&nbsp;</TD>
    <TD style="HEIGHT: 5.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>&nbsp;(*) The Company discloses its adjusted EBITDA net of
its share of investments and other operating income (expenses) because it
understands that these should not be considered in the calculation of recurring
operating cash generation.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>26.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>INSURANCE </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>Aiming to properly mitigate risk and in view of the nature
of its operations, the Company and its subsidiaries have taken out several
different types of insurance policies. Such policies are contracted in line with
the Risk Management policy and are similar to the insurance taken out by other
companies operating in the same lines of business as CSN and its subsidiaries.
The risks covered under such policies include the following: Domestic
Transportation, International Transportation, Life and Casualty, Health,
Vehicles Fleet, D&amp;O (Civil Liability Insurance for Directors and Officers),
General Civil Liability, Engineering Risks, Named Peril, Export Credit, Surety
Bond and Port Operator&#8217;s Civil Liability. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>In 2019, after negotiation with insurers and reinsurers in
Brazil and abroad, an insurance policy was issued for the contracting of a
policy of Operational Risk of Property Damages and Loss of Profits, with effect
from March 31, 2019 to March 31, 2020. Under the insurance policy, the LMI
(Maximum Limit of Indemnity) is US$600 million and deductibles in the amount of
R$385 million for material damages and 45 days for loss of profits and covers
the following Company&#8217;s units and subsidiaries: Presidente Vargas Steelworks,
CSN Minera&#231;&#227;o and Sepetiba Tecon. Management understands that the policies
covers its assets and the risks to which the Company is subject.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 116%" face=Arial,sans-serif>In view of their nature, the risk assumptions adopted are
not part of the scope of an audit of the financial statements and, accordingly,
were not examined by our independent auditors.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>27.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>ADDITIONAL INFORMATION TO CASH FLOWS </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The following table provides additional information on
transactions related to the statement of cash flows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12.7pt">
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated</FONT></B></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Parent
    Company</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.7pt">
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>03/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.9pt">
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Income tax and social contribution paid
    </FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,030</FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>15,373</FONT></P></TD>
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 11.9pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.7pt">
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Addition to PP&amp;E with interest capitalization
      (note 10 and 24)</FONT></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>21,111</FONT></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,090</FONT></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,419</FONT></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,594</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.7pt">
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Capitalization in subsidiaries without cash (note
      14.a)</FONT></P></TD>
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>640,989</FONT></P></TD>
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>61,072</FONT></P></TD>
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 12.7pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.7pt">
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>670,130</FONT></B></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>32,463</FONT></B></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>66,491</FONT></B></P></TD>
    <TD style="HEIGHT: 12.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.7pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,594</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.55pt">
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">&nbsp;</TD>
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 5.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 80</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_82></A>
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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader82"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>(1) For the calendar year 2019, the Company opted for
taxation based on Quarterly Real Profit, based on art. 1 of Law 9,430 / 96, and
the income and social contribution taxes payable in a single share, up to the
last business day of the month subsequent the end of each quarter.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter82"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=Arial><STRONG></STRONG></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt">&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 81</FONT></P></DIV>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_83></A>
<a name="_bclPageBorder83"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="90%" colSpan=2>
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
  <TR>
    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader83"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>28.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>STATEMENT OF COMPREHENSIVE INCOME</FONT></B>&nbsp;&nbsp;
</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT face=Arial></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Consolidated </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Parent Company </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>03/31/2019</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>12/31/2018</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Profit for the year </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      86,763 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      1,486,495 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (7,572)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      1,471,863 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Other comprehensive income </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" align=left>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Items that will not be subsequently reclassified to
      the statement of income</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap align=left>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Actuarial (losses) / gains on defined benefit
      plan from investments in subsidiaries, net of taxes&nbsp;&nbsp;<FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>
      </FONT></FONT></P></TD>
    <TD vAlign=bottom width="10%" noWrap align=right>&nbsp;<FONT size=2 face=Arial>30</FONT></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;<FONT size=2 face=Arial>30 </FONT></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;<FONT size=2 face=Arial>30 </FONT></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;<FONT size=2 face=Arial>30
  </FONT></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap align=right>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Actuarial (losses)/Gains on defined benefit
      pension plan </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="68%" colSpan=3 noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Income tax and social contribution on
      actuarial (losses)/gains on defined benefit pension plan </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24.1pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>30 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      30 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      30 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      30 </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Items that could be subsequently reclassified to the
      statement of income</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Cumulative translation adjustments for the
      period </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(21,804)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      37,958 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (21,804)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      37,958 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Fair value through other comprehensive
      income&nbsp; </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1,559,680)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (1,559,680)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;(Loss)/gain on the percentage change in
      investments </FONT></P></TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>&nbsp;</TD>
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>&nbsp;</TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;(Loss)/gain on cash flow hedge accounting
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(18,440)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (18,646)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (18,440)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (18,646)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Realization of cash flow hedge accounting
      reclassified to the income statement </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>184,217 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      13,732 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      184,217 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      13,732 </FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(Loss)/gain on investments hedge of investments in
      subsidiaries</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,180 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (4,860)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(Loss)/gain on net investment hedge in foreign
      subsidiaries</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,180 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (4,860)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>(Loss)/
      gain on business combination</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 24.1pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>150,153 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (1,531,496)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      150,153 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (1,531,496)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      150,153 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (1,531,496)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      150,153 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (1,531,496)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Total comprehensive income for the year
      </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>236,946 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (44,971)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      142,611 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #dce6f1; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (59,603)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Attributable to: </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Controlling shareholders </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      142,611 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (59,603)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      142,611 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (59,603)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;Non-controlling shareholders </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      94,335 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      14,632 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #dce6f1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
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      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      236,946 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (44,971)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      142,611 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (59,603)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>29.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" face=Arial,sans-serif>EVENTS AFTER THE REPORTING PERIOD</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>&#8226; Issuance of debt securities</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>In April 2019, the Company issued debt securities in the
foreign market ("Notes"), through its subsidiary CSN Resources SA, in the amount
of US$ 1 billion, with maturity in 2023 and 2026 at an interest rate of 7.625%
year. The proceeds were used in the tender offer ("Tender Offer") of Notes
issued by CSN Resources S.A. and CSN Islands XI Corp., subsidiaries of the
Company, which amounted to US$ 1 billion, divided into US$ 405 million maturing
in 2019 and US$ 595 million due in 2020 The Notes are unconditionally and
irrevocably guaranteed by the Company.</FONT></P>
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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<a name="_bclHeader84"></a><DIV><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.2pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=arial,sans-serif>COMMENTS ON THE PERFORMANCE OF BUSINESS PROJECTIONS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.2pt 0pt 5.1pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Projections</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.2pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.2pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The Company clarifies that the information disclosed in this item represents a mere estimate, hypothetical data and cannot be interpreted as a promise of performance by the Company and/or its Management. The projections listed below include market variables that are not under the Company&#8217;s control and, therefore, may change.</FONT></P>

<H1 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 7.1pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; FONT-WEIGHT: normal" face=Arial,sans-serif></FONT>&nbsp;</H1>

<H1 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Purpose of Projection</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0.15pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>CSN estimates an adjusted annualized EBTIDA close to R$7,5 billion for 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates a leverage measured by the ratio of net debt to adjusted EBITDA close to 3.5 times at the end of the first half of 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates a leverage measured by the ratio of net debt to adjusted EBITDA close to 3.0 times at the end of 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates iron ore production volume at 31.5 million of tons (Mton) in 2019, 30.7Mton in 2020, 31.2Mton in 2021, 36.6Mton in 2022 and 38Mton in 2023.</FONT></P>

<H1 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 8.7pt 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Arial,sans-serif></FONT>&nbsp;</H1>

<H1 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 8.7pt 0in 0pt 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Period and validity term of the projection.</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0.15pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 5.8pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>For the year 2019, is projected an EBITDA close to R$7.5 billion. In turn, the validity term of the presented projection ends with the results being disclosed for the fiscal year ended December 31, 2019, that will be available to the market within the period established by the local authority.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.2pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>In June 2019, CSN estimates a leverage measured by the ratio of net debt to adjusted EBTIDA close to 3.5 times, that will be available to the market at the end of the first half of 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>In&nbsp;December 2019, CSN estimates a leverage measured by the ratio of net debt to adjusted EBTIDA close to 3.0 times, that will be available to the market at the end of 2019 period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates annual volume of iron ore production from 2019 to 2023 and the annual volumes will be available to the market in the DFPs to be published in each of the years.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.4pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<H1 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 6.25pt 0pt 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=Arial,sans-serif>c)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=Arial,sans-serif>Assumptions of the projection, indicating which can be influenced by the issuer&#8217;s management and which are beyond its control.</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0.15pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 5.8pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>All assumptions mentioned below are subject to the influence of external variables, which are beyond the control of the Company&#8217;s management. Therefore, in case of relevant changes in these assumptions, the Company may revise its estimates mentioned below, modifying them in comparison with those originally presented.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><U><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>Adjusted EBITDA</FONT></U></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.2pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 4.7pt 5.8pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The assumptions used to project the adjusted EBITDA of R$7.5 billion for 2019, consider the best average prices for flat steel, as well as the higher sales volume, highlighting the allocation of goods to the domestic market focusing on better operational margins. In relation to the mining, our estimate is that the price levels (Platts &#8211; 62% Fe) of iron ore in 2019 above 2018 when the index closed at an average of US$ 69.46 / t </FONT></P>

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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
    <TD rowSpan=2 width="10%">
      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader85"></a><DIV><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" size=3 face="Times New Roman"></FONT>&nbsp;</DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 5.1pt"><U><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>Leverage
</FONT></U></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 4.7pt 5.8pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The assumptions used for the leverage measured by the
ratio of net debt to adjusted EBITDA close to 3.5 times over a 3 months and 3.0
times over a 9 months is based on an increase of the adjusted EBITDA, resulting
in a higher generation of free cash flow and lower net debt, leading to a
substantial reduction of the indicator. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt"><U><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>Volume of
Iron Ore Production</FONT></U></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>The volume
of ore production considers our mining plan between 2019 and 2023, with an
increase in pellet feed production, in line with the investment projects
announced through Material Fact and Corporate Presentation with the
market.</FONT></P>
<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<H1 style="BACKGROUND: white; PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 4.75pt 0in 0pt 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>d)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>Values of the indicators
that are subject of the forecast.</FONT></B></H1>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0.5pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>Net Revenue</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2016</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2017</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2018</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2019
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2020
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2021
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2022
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2023
    E</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,000</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,230</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reached</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,149</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,525</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,969</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation
      %</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3%</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3%</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>Adjusted EBITDA </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2016</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2017</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2018</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2019
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2020
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2021
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2022
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2023
    E</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,000</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,574</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,000</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reached</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,075</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,645</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,849</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation
      %</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-7%</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5%</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>Leverage</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2016</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2017</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2018</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2019
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2020
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2021
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2022
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2023
    E</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,00x</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,50x</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reached</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,32x</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,66x</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,55x</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation
      %</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13%</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>Volume of Iron Ore
    Production</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2016</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2017</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2018</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2019
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2020
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2021
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2022
    E</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>2023
    E</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,500</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,500</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,700</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,200</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,600</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,000</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reached</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,174</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,921</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,875</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation
      %</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" colSpan=2>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-2%</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>n.a.</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=2>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>*E =
      estimated</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="68%" colSpan=8>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=2>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>**n.a. = not
      evaluated</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="68%" colSpan=8>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="27%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0.25pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.25pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.15pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>If the issuer
has disclosed, in the last 3 fiscal years, projections over the progress of its
indicators:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.25pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.25pt 0pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>a)</FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Inform which were being replaced by new projections and
which were being repeated. </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.35pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>There were
no new estimates, all of which were already communicated to the market through a
Material Fact, as well as subsequently updated in the Reference Form.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 106.2pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 211%" face=Arial,sans-serif>Estimates maintained:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>CSN
estimates an adjusted annualized EBTIDA close to R$7,5 billion for
2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif><FONT style="FONT-SIZE: 9pt; FONT-FAMILY: Arial">CSN estimates a leverage measured by
the ratio of net debt to adjusted EBITDA close to 3.0 times at the end of
2019.</FONT></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates a leverage measured by the ratio of net debt
to adjusted EBITDA close to 3.5 times at the end of the first half of
2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 84</FONT></P></DIV>
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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

   <TD width="45%">

   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

<a name="_bclHeader86"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates iron ore production volume at 31.5 million of tons (Mton) in 2019, 30.7Mton in 2020, 31.2Mton in 2021, 36.6Mton in 2022 and 38Mton in 2023.</FONT></P>

<H1 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 8.65pt 6.1pt 0pt 5.1pt; TEXT-INDENT: 0in"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=Arial,sans-serif>b)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=Arial,sans-serif>In relation to the projections for periods that have already occured, compare the projection data with the performance indicators, clearly indicating the reasons that led to deviations in the projections</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=Arial,sans-serif>.</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0.45pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.4pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>In 2018, Net Revenue was 3% higher than the previous estimate of R$22,2 billion, due to the better steel and iron ore prices.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.35pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>In 2018, the Adjusted EBITDA was 5% higher than the previous estimate of R$5,6 billion, due to the fact that mining presented an adjusted EBITDA higher than expected, given the higher average price and quality of our iron ore. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 6.35pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>&nbsp; The volume of production of iron ore was within the expectation, with small variation of &nbsp;-2% and according to our expected mining plan.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>Net Revenue</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2016</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2017</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2018</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>n.a.</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>18,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>22,230</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reached</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>17,149</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>18,525</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>22,969</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation %</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>3%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>3%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>Adjusted EBITDA </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2016</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2017</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2018</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>n.a.</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>5,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>5,574</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reached</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>4,075</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>4,645</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>5,849</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation %</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>-7%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>5%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=arial,sans-serif>Volume of Iron Ore Production</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2016</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2017</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" color=white face=calibri,sans-serif>2018</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Estimated</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>n.a.</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>n.a.</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>28,500</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reached</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>32,174</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>29,921</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>27,875</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation %</FONT></P></TD>

   <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>n.a.</FONT></P></TD>

   <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>n.a.</FONT></P></TD>

   <TD style="HEIGHT: 15.75pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>-2%</FONT></P></TD></TR>

<TR style="HEIGHT: 15.75pt">

   <TD style="HEIGHT: 15.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>*E = estimated</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="60%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=calibri,sans-serif>**n.a. = not evaluated</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="60%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<H1 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 6.25pt 0pt 5.1pt; TEXT-INDENT: 0in"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=Arial,sans-serif>c)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=Arial,sans-serif>In relation to the projections for periods still in progress, inform if the projections remain valid on the date of delivery the form and, when applicable, explain why they were abandoned or replaced.</FONT></B></H1>

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

<P style="TEXT-ALIGN: justify; MARGIN: 3.8pt 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>Ongoing and valid estimates:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>CSN estimates an adjusted annualized EBTIDA close to R$7,5 billion for 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates a leverage measured by the ratio of net debt to adjusted EBITDA close to 3.0 times at the end of 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates a leverage measured by the ratio of net debt to adjusted EBITDA close to 3.5 times at the end of the first half of 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>CSN estimates iron ore production volume at 31.5 million of tons (Mton) in 2019, 30.7Mton in 2020, 31.2Mton in 2021, 36.6Mton in 2022 and 38Mton in 2023.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>Follow-up and changes to projections disclosed</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 85</FONT></P></DIV>

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      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE
      ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>
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      <P align=right><IMG border=0 src="header.jpg"></P></TD></TR>
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    <TD width="45%">
      <P></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
    <TD width="45%">
      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
<a name="_bclHeader87"></a><DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 5.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" face=Arial,sans-serif>The result of the first quarter of 2019 does not bring any
material variation to the results projections previously submitted for the year
2019, which can therefore be maintained.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 86</FONT></P></DIV>
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   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-GB style="FONT-SIZE: 8pt" face=arial,sans-serif>(Free translation from the original issued in Portuguese. In the event of any discrepancies, the Portuguese language version shall prevail.)</FONT></B></P></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 90%" face=arial,sans-serif><STRONG>Independent Auditor&#8217;s Report on Review of the Interim Financial Information </STRONG></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-FAMILY: arial; LINE-HEIGHT: 14pt" color=black>To the</FONT></P><FONT style="FONT-SIZE: 9pt"><FONT style="FONT-FAMILY: arial">

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="LINE-HEIGHT: 14pt" color=black>Shareholders, Directors and Management of </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="LINE-HEIGHT: 14pt" color=black>Companhia Sider&#250;rgica Nacional</FONT></P>

<P style="MARGIN: 0in 0in 14.2pt"><FONT lang=PT-BR style="LINE-HEIGHT: 14pt" color=black>S&#227;o Paulo &#8211; SP </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 18.45pt 0pt 0in"><FONT lang=EN-US style="COLOR: #000000; LINE-HEIGHT: 14pt"><STRONG>Introduction</STRONG></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 18.45pt 14pt 0in"><FONT lang=EN-US style="LINE-HEIGHT: 14pt">We have reviewed the accompanying individual and consolidated interim financial information of Companhia Sider&#250;rgica Nacional (&#8220;Company&#8221;), identified as Parent and Consolidated, respectively, included in the Interim Financial Information Form (ITR) for the quarter ended March 31, 2019, which comprises the balance sheet as at March 31, 2019 and the related statement of profit and loss and statement of comprehensive income (loss) for the three-month periods then ended, and the statement of changes in equity and statement of cash flows for the nine-month period then ended, including a summary of significant accounting policies and other explanatory notes. </FONT></P>

<P style="MARGIN: 0in 0in 14pt"><FONT lang=EN-US style="LINE-HEIGHT: 14pt">Management is responsible for the preparation of the individual and consolidated interim financial information in accordance with Technical Pronouncement CPC 21 (R1) - Interim Financial Reporting and 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="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 18.45pt 0pt 0in"><FONT lang=EN-US style="COLOR: #000000; LINE-HEIGHT: 14pt"><STRONG>Scope of review</STRONG></FONT></P>

<P style="MARGIN: 0in 0in 14pt"><FONT lang=EN-US style="LINE-HEIGHT: 14pt">We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - 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 the 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="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 18.45pt 0pt 0in"><FONT lang=EN-US style="COLOR: #000000; LINE-HEIGHT: 14pt"><STRONG>Conclusion on the individual and consolidated interim financial information</STRONG></FONT></P>

<P style="MARGIN: 0in 0in 0pt">Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual and consolidated interim financial information included in the Interim Financial Information Form (ITR) referred to above is not prepared, in all material respects, in accordance with CPC 21 (R1) and IAS 34 <FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>applicable to the preparation of interim financial information and presented in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM).</FONT></P></FONT></FONT>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-FAMILY: arial; LINE-HEIGHT: 14pt" color=black><B><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-FAMILY: arial; LAYOUT-GRID-MODE: line; COLOR: #000000; LINE-HEIGHT: 14pt">Emphasis of matter</FONT></B></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-FAMILY: arial; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 14pt"><STRONG>Ability of the jointly-controlled subsidiary Transnordestina Log&#237;stica S.A. to continue as a going concern</STRONG></FONT></P>

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<P style="MARGIN: 0in 0in 14pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 14pt" face=arial,sans-serif>We draw attention to Note 9.c) to the interim financial information, which describes the percentage of completion of the new railway network by the jointly-controlled subsidiary Transnordestina Log&#237;stica S.A. (TLSA), currently under construction and originally scheduled to be completed by January 2017, is currently being revised and discussed by the relevant regulatory bodies. The completion of the work under the project (and consequent start of operations) is contingent upon receiving ongoing financial contribution from TLSA&#180;s shareholders and third parties. These events and conditions, together with other issues described in note 9.c) to the financial statements, indicate the existence of significant uncertainty that may raise significant doubt as to TLSA&#180;s ability to continue as a going concern. Our conclusion is not qualified regarding this matter.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 18.45pt 14pt 0in"><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-FAMILY: arial; COLOR: #000000; LINE-HEIGHT: 14pt"><STRONG>Other matters</STRONG></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 18.45pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-FAMILY: arial; LINE-HEIGHT: 14pt"><STRONG>Interim statements of value added </STRONG></FONT></P>

<P style="MARGIN: 0in 0in 14pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; LINE-HEIGHT: 14pt">We have also reviewed the individual and consolidated statements of value added (DVA) for the tree-months period ended March 31, 2019, prepared under the responsibility of the Company&#8217;s management, the presentation of which is required by the standards issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of interim financial information and considered supplemental information by IFRS, which does not require the presentation of a DVA. This interim financial information was 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 it was not fairly presented, in all material respects, in relation to the individual and consolidated interim financial information taken as a whole.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; LINE-HEIGHT: 14pt" color=black>S&#227;o Paulo, May 08, 2019</FONT></P><FONT style="FONT-SIZE: 9pt; FONT-FAMILY: Arial">

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<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=PT-BR style="LINE-HEIGHT: 14pt">Nelson Fernandes Barreto Filho</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; FONT-FAMILY: Arial">Grant Thornton Auditores Independentes</FONT></P>

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      <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March
      31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>
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      <P></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version:
  1</FONT></B></P></TD></TR></TABLE>
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<P style="MARGIN: 0in 0in 0pt"><FONT size=+0><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Opinions and
Statements / Officers Statement on the Financial Statement</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As Executive
Officers of Companhia Siderurgica Nacional, we declare pursuant to Article 25,
paragraph 1&#186;, item VI of CVM Instruction 480, of December 7, 2009, as amended,
that we reviewed, discussed and agreed with the Company&#8217;s Financial Statements
for the quarter ended March 31,2019.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>S&#227;o Paulo, May
0</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=#333333 face="Times New Roman">8</FONT><SUP><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=#333333 face=Arial,sans-serif>
</FONT></B></SUP><SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=#333333 face="Times New Roman">th</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>,
2019.</FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Benjamin
Steinbruch</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>CEO</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Luis Fernando
Barbosa Martinez</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Executive
Officer</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>David Moise
Salama</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Executive
Officer</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Pedro Gutemberg
Quariguasi Netto </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Executive
Officer</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Marcelo Cunha
Ribeiro</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>Executive Officer &#8211; CFO and Investors Relations</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Quarterly Financial Information - March 31, 2019 &#8211; CIA SIDERURGICA NACIONAL</FONT></P></TD>

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   <P></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Version: 1</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif>Opinions and Statements / Officers Statement on Auditor&#8217;s Report</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>As Executive Officers of Companhia Siderurgica Nacional, we declare pursuant to Article 25, paragraph 1&#186;, item V of CVM Instruction 480, of December 7, 2009, as amended, that we reviewed, discussed and agreed with the opinion expressed on the Independent Auditors&#8217; Report related to the Company&#8217;s Financial Statements for the quarter ended March 31,2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>S&#227;o Paulo, May </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=#333333 face=arial,sans-serif>08</FONT><SUP><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=#333333 face=Arial,sans-serif> </FONT></B></SUP><SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=#333333 face="Times New Roman">th</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>, 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Benjamin Steinbruch</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>CEO</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Luis Fernando Barbosa Martinez</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Executive Officer</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>David Moise Salama</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Executive Officer</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Pedro Gutemberg Quariguasi Netto </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Executive Officer</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>____________________________________________</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Marcelo Cunha Ribeiro</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>Executive Officer &#8211; CFO and Investors Relations</FONT></P>

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: right; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0in" align=right>&nbsp;</P>

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: right; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Page 90</FONT></P></DIV>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">SIGNATURE </FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<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;May 30, 2019</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center>

<TABLE style="WIDTH: 50%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="50%" colSpan=2>

   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman">COMPANHIA SIDER&#218;RGICA NACIONAL </FONT></DIV></TD></TR>

<TR height=20>

   <TD vAlign=top width="50%" colSpan=2>

   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"></FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="5%">

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></DIV></TD>

   <TD vAlign=bottom width="45%" align=center>

   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Benjamin Steinbruch </FONT></DIV>

   <HR align=left color=#000000 SIZE=1 noShade>

</TD></TR>

<TR>

   <TD width="5%"><FONT size=1>&nbsp;</FONT></TD>

   <TD vAlign=bottom width="45%" align=center>

   <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>

<P></P>

<P>&nbsp;</P>

<P></P>

<DIV align=center>

<TABLE style="WIDTH: 50%" cellSpacing=0 cellPadding=0 align=center border=0>



<TR>

   <TD vAlign=top width="50%" colSpan=2>

   <DIV align=left>&nbsp;</DIV></TD></TR>

<TR height=20>

   <TD vAlign=top width="50%" colSpan=2>

   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"></FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="5%">

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></DIV></TD>

   <TD vAlign=bottom width="45%" align=center>

   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Marcelo Cunha Ribeiro </FONT></DIV>

   <HR align=left color=#000000 SIZE=1 noShade>

</TD></TR>

<TR>

   <TD width="5%"><FONT size=1>&nbsp;</FONT></TD>

   <TD vAlign=bottom width="45%" align=center>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Marcelo Cunha Ribeiro </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Chief Financial and Investor Relations Officer<BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

<DIV>&nbsp;</DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<P></P>

<P>&nbsp;</P>

<P></P>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P></P>

<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>

<P></P>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

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<DOCUMENT>
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
