<SEC-DOCUMENT>0000950103-22-004655.txt : 20220316
<SEC-HEADER>0000950103-22-004655.hdr.sgml : 20220316
<ACCEPTANCE-DATETIME>20220316074917
ACCESSION NUMBER:		0000950103-22-004655
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20220316
FILED AS OF DATE:		20220316
DATE AS OF CHANGE:		20220316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Arcos Dorados Holdings Inc.
		CENTRAL INDEX KEY:			0001508478
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35129
		FILM NUMBER:		22743313

	BUSINESS ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294, OFFICE 501
		STREET 2:		WTC FREE ZONE
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
		BUSINESS PHONE:		598 2626-3000

	MAIL ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294, OFFICE 501
		STREET 2:		WTC FREE ZONE
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp169253_6k-2.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K<BR>
</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt"><B>REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of March, 2022</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 21%; color: black">

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-35129</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 28pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arcos Dorados Holdings Inc.</B></P>

<P STYLE="font: 28pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified in its
charter)</B></P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dr. Luis Bonavita 1294, Office 501 </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Montevideo, Uruguay, 11300 WTC Free Zone </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 66%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 14%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X</P>
</TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Form 40-F</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; width: 14%">
</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

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    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Yes</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; width: 14%">
</TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">No</FONT></TD>
    <TD STYLE="width: 14%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

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    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Yes</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; width: 14%">
</TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">No</FONT></TD>
    <TD STYLE="width: 14%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X</P>
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  </TABLE><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARCOS DORADOS HOLDINGS INC.</B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>ITEM</B></FONT></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Press Release dated March 16, 2022 titled &ldquo;Arcos Dorados Reports Supplemental Historical Information&rdquo;</FONT></TD></TR>
  </TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>Arcos Dorados Holdings Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Juan David Bastidas</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 29%"><FONT STYLE="font-size: 10pt">Juan David Bastidas</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Legal Counsel</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Date: March 16, 2022</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Item 1</B></P>

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

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

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%; font-weight: bold; font-size: 12pt"><FONT STYLE="font-size: 10pt; color: #2C2C2C"><U>FOR IMMEDIATE RELEASE</U></FONT></TD>
    <TD STYLE="text-align: right; width: 46%; font-weight: bold; font-size: 12pt"><IMG SRC="image_001.jpg" ALT="??cone&#10;&#10;Descri????o gerada automaticamente" STYLE="height: 62px; width: 62px"></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">ARCOS
DORADOS REPORTS SUPPLEMENTAL HISTORICAL INFORMATION</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><IMG SRC="image_001.gif" ALT="" STYLE="width: 46px; height: 6px"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Montevideo,
Uruguay, March 16, 2022 &ndash; Arcos Dorados Holdings, Inc. (NYSE: ARCO) (&ldquo;Arcos Dorados&rdquo; or the &ldquo;Company&rdquo;),
Latin America&rsquo;s largest restaurant chain and the world&rsquo;s largest independent McDonald&rsquo;s franchisee, is providing restated
quarterly financial information for the years 2019, 2020 and 2021, reflecting the Company&rsquo;s recently-announced divisional reorganization,
in order to facilitate the historical analysis of its performance:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><I><U>Divisional
Reorganization</U></I></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Effective
October 1, 2021, the Company made certain changes in its internal management structure, in order to gain operational agility, leading
the Company to reorganize its operation into three geographic divisions, as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 44.65pt 0pt 34.9pt; text-align: justify; color: #2C2C2C">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: #2C2C2C">(i)</FONT></TD><TD>Brazil division;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: #2C2C2C">(ii)</FONT></TD><TD>North Latin American division, or &ldquo;NOLAD,&rdquo; which
is now comprised of Mexico, Puerto Rico, Costa Rica, Panama, Martinique, Guadeloupe, French Guiana, St. Croix and St. Thomas; and</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt; color: #2C2C2C">(iii)</FONT></TD><TD>South Latin American division, or &ldquo;SLAD,&rdquo; which
is now comprised of Argentina, Chile, Colombia, Ecuador, Peru, Uruguay, Venezuela, Aruba, Cura&ccedil;ao and Trinidad &amp; Tobago.</TD>
</TR></TABLE>

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

<DIV STYLE="float: left; width: 49%">

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Investor
Relations Contact</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Dan
Schleiniger&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">VP
of Investor Relations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Arcos
Dorados&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #950047; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><I>daniel.schleiniger@ar.mcd.com</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #950047; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Follow
us on:&nbsp;<IMG SRC="image_002.gif" ALT="" STYLE="height: 24px; width: 46px"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

</DIV>

<DIV STYLE="float: right; width: 49%">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B>Media
Contact</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">David
Grinberg</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt; color: #2C2C2C">VP
of Corporate Communications</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt; color: #2C2C2C">Arcos Dorados</FONT> <FONT STYLE="font-size: 10pt; color: #950047"><I></I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt; color: #950047"><I>david.grinberg@mcd.com.uy</I></FONT></P>

</DIV>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 104.2pt 0pt 34.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Arial, Helvetica, Sans-Serif; width: 100%">
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  <TD STYLE="width: 100%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 104.2pt 0pt 34.9pt"></P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 81%; font-weight: bold; font-size: 12pt"><P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="image_008.gif" ALT="" STYLE="height: 1px; width: 1px"><FONT STYLE="color: #2C2C2C">2021
Key Metrics by Division</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: #2C2C2C"><IMG SRC="image_003.gif" ALT="" STYLE="height: 6px; width: 45px">&nbsp;</FONT></P></TD>
    <TD STYLE="text-align: right; width: 19%; font-weight: bold; font-size: 12pt"><FONT STYLE="color: #2C2C2C"><IMG SRC="image_022.jpg" ALT="" STYLE="height: 51px; width: 51px"></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><I><IMG SRC="image_008.gif" ALT="" STYLE="height: 1px; width: 1px"><IMG SRC="image_004.gif" ALT="" STYLE="height: 2px; width: 1px"><IMG SRC="image_006.gif" ALT="" STYLE="height: 2px; width: 1px"><IMG SRC="image_006.gif" ALT="" STYLE="height: 2px; width: 1px"><IMG SRC="image_008.gif" ALT="" STYLE="height: 1px; width: 1px">(In
thousands of U.S. dollars, except percentages)</I></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #2C2C2C">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1Q21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2Q21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3Q21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4Q21</B></FONT></TD>
    <TD STYLE="border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; white-space: nowrap; width: 13%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Systemwide comparable sales growth </U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-10.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">65.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">36.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">18.3%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20.4%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">84.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">38.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23.6%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33.2%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">51.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">292.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">161.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">91.1%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">117.1%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">24.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">229.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">121.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">75.1%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">86.8%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2.1%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>98.7%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>56.6%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>33.6%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>38.8%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Total Revenues</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">203,251</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">225,740</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">275,229</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">298,561</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,002,781</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">173,754</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">193,271</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">204,670</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">209,171</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;780,866</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">184,111</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">173,685</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">245,938</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">272,560</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;876,294</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">182,831</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">172,266</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">243,462</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">269,398</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;867,957</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>561,116</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>592,696</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>725,837</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>780,292</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;2,659,941</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>559,836</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>591,277</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>723,361</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>777,130</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;2,651,604</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Operating Income (loss) </U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">180</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19,995</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">36,925</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">60,787</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;117,887</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5,141</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8,916</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12,487</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">22,241</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;48,785</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1,852</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5,631</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">18,718</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">22,413</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;48,614</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3,727</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6,129</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19,093</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23,905</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;52,853</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Corporate and Other</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(13,981)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(16,724)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(17,389)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(27,673)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(75,767)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(6,808)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>17,818</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>50,741</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>77,768</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;139,519</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(4,933)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>18,316</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>51,116</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>79,260</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;143,758</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Adjusted EBITDA (1)</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13,540</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33,819</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">52,188</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">76,056</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;175,603</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13,836</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19,039</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">22,273</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30,175</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;85,323</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9,604</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11,083</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">26,409</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30,477</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;77,573</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10,418</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12,231</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">26,691</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">31,516</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;80,856</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Corporate and Other</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(13,050)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(16,785)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(11,583)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(25,323)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(66,741)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>23,930</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>47,156</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>89,287</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>111,385</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;271,758</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>24,744</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>48,304</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>89,569</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>112,424</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;275,041</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Adjusted EBITDA Margin (2)</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">25.5%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17.5%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14.4%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.9%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.2%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.9%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.7%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9.3%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4.3%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>8.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>12.3%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>14.3%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.2%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4.4%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>8.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>12.4%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>14.5%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.4%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Restaurant Footprint as of December 31, 2021</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #FFF0BD">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Ownership</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total Restaurants</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #FFF0BD">&nbsp;</TD>
    <TD STYLE="border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Company Operated</B></FONT></TD>
    <TD STYLE="border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Franchised</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; border-top: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">631</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">420</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,051</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">453</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">172</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>625</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">495</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">90</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>585</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,579</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>682</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2,261</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; background-color: white">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-indent: 0pt"><IMG SRC="image_007.gif" ALT="" STYLE="width: 1px; height: 1px"><IMG SRC="image_007.gif" ALT="" STYLE="width: 1px; height: 1px"><IMG SRC="image_010.gif" ALT="" STYLE="width: 2px; height: 1px"></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><I>(1)</I></TD><TD><I>Adjusted EBITDA is a measure of our performance that is reviewed
by our management. Adjusted EBITDA does not have a standardized meaning and, accordingly, our definition of Adjusted EBITDA may not be
comparable to Adjusted EBITDA as used by other companies. Total Adjusted EBITDA is a non-GAAP measure. For our definition of Adjusted
EBITDA, see &ldquo;Item 5. Operating and Financial Review and Prospects - A. Operating Results - Key Business Measures&rdquo;.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><I>(2)</I></TD><TD><I>Adjusted EBITDA Margin is Adjusted EBITDA divided by total
revenues, expressed as a percentage.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif"></P>

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<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 81%; font-weight: bold; font-size: 12pt"><P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="image_008.gif" ALT="" STYLE="height: 1px; width: 1px"><FONT STYLE="color: #2C2C2C">2020
Key Metrics by Division</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: #2C2C2C"><IMG SRC="image_003.gif" ALT="" STYLE="height: 6px; width: 45px">&nbsp;</FONT></P></TD>
    <TD STYLE="text-align: right; width: 19%; font-weight: bold; font-size: 12pt"><FONT STYLE="color: #2C2C2C"><IMG SRC="image_022.jpg" ALT="" STYLE="height: 51px; width: 51px"></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #2C2C2C; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><I>(In
thousands of U.S. dollars, except percentages)</I></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #2C2C2C">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-indent: 0pt"><IMG SRC="image_005.gif" ALT="" STYLE="width: 1px; height: 2px"><IMG SRC="image_005.gif" ALT="" STYLE="width: 1px; height: 2px"><IMG SRC="image_014.gif" ALT="" STYLE="width: 2px; height: 2px"></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1Q20</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2Q20</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3Q20</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4Q20</B></FONT></TD>
    <TD STYLE="border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; white-space: nowrap; width: 13%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2020</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Systemwide comparable sales growth </U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-6.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-46.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-26.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-10.6%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-21.8%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-6.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-43.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-21.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-7.8%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-19.8%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">31.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-60.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-22.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">28.8%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-6.0%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-67.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-34.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-1.0%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-25.8%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>-4.5%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>-51.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>-27.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>-7.9%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>-22.3%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Total Revenues</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">284,382</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">132,234</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">192,402</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">253,730</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;862,748</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">155,531</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">102,226</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">149,279</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">177,610</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;584,646</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">177,591</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">58,064</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">125,118</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">176,052</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;536,825</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">175,994</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">57,739</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">124,225</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">174,373</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;532,330</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>617,504</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>292,524</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>466,799</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>607,392</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;1,984,219</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>615,907</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>292,199</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>465,906</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>605,713</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;1,979,725</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Operating Income (loss) </U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11,088</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(21,135)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7,676</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">18,492</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;16,121</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,653</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(9,510)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">972</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5,915</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;30</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(7,382)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(34,784)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(777)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14,101</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(28,842)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(5,539)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(32,388)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">774</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16,023</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(21,130)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Corporate and Other</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(13,494)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(11,849)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(11,932)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(16,788)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(54,063)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(7,135)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(77,278)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(4,061)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>21,720</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;(66,754)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(5,292)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(74,882)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(2,510)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>23,642</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;(59,042)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Adjusted EBITDA (1)</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">29,171</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(7,099)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">21,507</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">32,576</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;76,155</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13,415</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(2,214)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10,874</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19,421</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;41,496</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(1,822)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(22,687)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3,572</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">21,767</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;830</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(332)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(21,460)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4,355</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">22,682</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;5,245</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Corporate and Other</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(12,241)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(10,907)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(10,919)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(16,303)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(50,370)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>28,523</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(42,907)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>25,034</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>57,461</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;68,111</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>30,013</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(41,680)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>25,817</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>58,376</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;72,526</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Adjusted EBITDA Margin (2)</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-5.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.8%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.8%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-2.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.9%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.1%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-1.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-39.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.4%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.2%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-0.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-37.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13.0%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.0%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4.6%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>-14.7%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>5.4%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>9.5%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3.4%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4.9%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>-14.3%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>5.5%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>9.6%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3.7%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Restaurant Footprint as of December 31, 2020</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: -0.125in; white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #FFF0BD">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Ownership</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total Restaurants</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #FFF0BD">&nbsp;</TD>
    <TD STYLE="border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Company Operated</B></FONT></TD>
    <TD STYLE="border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Franchised</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; border-top: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">610</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">410</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,020</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">475</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">154</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>629</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">491</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">96</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>587</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,576</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>660</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2,236</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; background-color: white">&nbsp;</TD></TR>
  </TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><I>(1)</I></TD><TD><I>Adjusted EBITDA is a measure of our performance that is reviewed
by our management. Adjusted EBITDA does not have a standardized meaning and, accordingly, our definition of Adjusted EBITDA may not be
comparable to Adjusted EBITDA as used by other companies. Total Adjusted EBITDA is a non-GAAP measure. For our definition of Adjusted
EBITDA, see &ldquo;Item 5. Operating and Financial Review and Prospects - A. Operating Results - Key Business Measures&rdquo;.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><I>(2)</I></TD><TD><I>Adjusted EBITDA Margin is Adjusted EBITDA divided by total
revenues, expressed as a percentage.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 81%; font-weight: bold; font-size: 12pt"><P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="image_008.gif" ALT="" STYLE="height: 1px; width: 1px"><FONT STYLE="color: #2C2C2C">2019
Key Metrics by Division</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="color: #2C2C2C"><IMG SRC="image_003.gif" ALT="" STYLE="height: 6px; width: 45px">&nbsp;</FONT></P></TD>
    <TD STYLE="text-align: right; width: 19%; font-weight: bold; font-size: 12pt"><FONT STYLE="color: #2C2C2C"><IMG SRC="image_022.jpg" ALT="" STYLE="height: 51px; width: 51px"></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><I>(In thousands
of U.S. dollars, except percentages)</I></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #2C2C2C">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0pt; text-indent: 0pt"><IMG SRC="image_019.gif" ALT="" STYLE="width: 1px; height: 1px"><IMG SRC="image_019.gif" ALT="" STYLE="width: 1px; height: 1px"><IMG SRC="image_020.gif" ALT="" STYLE="width: 2px; height: 1px"></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1Q19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2Q19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3Q19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4Q19</B></FONT></TD>
    <TD STYLE="border-bottom: #FFBC0D 1pt solid; border-left: #FFBC0D 1pt solid; white-space: nowrap; width: 13%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2019</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Systemwide comparable sales growth </U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9.5%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9.7%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.9%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.7%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">31537.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7543.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">485.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">374.6%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11963.2%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">24.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.9%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">21.5%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>14.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>12.7%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.4%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>11.8%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Total Revenues</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">340,764</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">329,298</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">346,201</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">369,302</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,385,566</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">157,939</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">169,158</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">172,048</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">177,237</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;676,382</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">232,296</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">225,288</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">231,719</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">207,827</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;897,129</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">229,240</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">222,569</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">229,349</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">205,788</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;886,947</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>730,999</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>723,744</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>749,968</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>754,366</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;2,959,077</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>727,943</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>721,025</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>747,598</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>752,327</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;2,948,895</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Operating Income (loss) </U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">32,093</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">28,486</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">41,633</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">62,131</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;164,342</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,542</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5,130</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7,275</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15,008</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;29,955</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9,434</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7,556</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8,882</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,024</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;27,894</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11,094</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8,680</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10,464</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5,897</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;36,137</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Corporate and Other</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(12,745)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(15,428)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(15,543)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(18,538)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(62,255)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>31,324</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>25,744</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>42,247</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>60,625</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;159,937</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>32,984</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>26,868</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>43,829</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>64,498</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;168,180</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Adjusted EBITDA (1)</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">46,904</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">44,198</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">57,481</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">79,262</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;227,844</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10,546</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12,825</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14,912</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">25,775</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;64,059</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16,207</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14,578</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">18,477</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13,781</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;63,043</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17,343</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15,364</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19,639</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15,154</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;67,500</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Corporate and Other</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(13,038)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(15,785)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(15,905)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(18,442)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;(63,171)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>60,619</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>55,816</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>74,965</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>100,376</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;291,775</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>61,755</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>56,602</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>76,127</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>101,749</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;296,232</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Adjusted EBITDA Margin (2)</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-left: #FFBC0D 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">21.5%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.4%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14.5%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9.5%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.6%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.0%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD - Excl. Venezuela</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.4%</FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.6%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #FFF0BD">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>8.3%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>7.7%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>13.3%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>9.9%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL - Excl. Venezuela</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>8.5%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>7.9%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: #FFBC0D 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>13.5%</B></FONT></TD>
    <TD STYLE="border-left: #FFBC0D 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.0%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Restaurant Footprint as of December 31, 2019</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1.5pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #FFF0BD">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Ownership</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total Restaurants</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #FFF0BD">&nbsp;</TD>
    <TD STYLE="border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Company Operated</B></FONT></TD>
    <TD STYLE="border-top: #FFBC0D 1pt solid; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Franchised</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; border-top: #FFBC0D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">612</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">411</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,023</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">456</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">199</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>655</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SLAD</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">512</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">103</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>615</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,580</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>713</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #FFBC0D 1pt solid; background-color: #FFF0BD; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2,293</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; background-color: white">&nbsp;</TD></TR>
  </TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><I>(1)</I></TD><TD><I>Adjusted EBITDA is a measure of our performance that is reviewed
by our management. Adjusted EBITDA does not have a standardized meaning and, accordingly, our definition of Adjusted EBITDA may not be
comparable to Adjusted EBITDA as used by other companies. Total Adjusted EBITDA is a non-GAAP measure. For our definition of Adjusted
EBITDA, see &ldquo;Item 5. Operating and Financial Review and Prospects - A. Operating Results - Key Business Measures&rdquo;.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><I>(2)</I></TD><TD><I>Adjusted EBITDA Margin is Adjusted EBITDA divided by total
revenues, expressed as a percentage.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<TEXT>
begin 644 image_010.gif
M1TE&.#EA @ ! '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
B! $     +      "  $ @0   -W=W=75U0$" P("! H .P$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>image_005.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_005.gif
M1TE&.#EA 0 " '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
<! $     +    0 !  $ @    -'1T0("1 $ .P$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>image_014.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_014.gif
M1TE&.#EA @ " '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
B! $     +    0 "  $ @0   -W=W='1T0$" P("! H .P$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>image_019.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_019.gif
M1TE&.#EA 0 ! '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
<! $     +      !  $ @    -'1T0("1 $ .P$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>image_020.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_020.gif
M1TE&.#EA @ ! '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
B! $     +      "  $ @0   -W=W='1T0$" P("! H .P$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
