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These financial statements, which have been derived from UOL's accounting records, do not necessarily reflect PagSeguro Brazil financial position, results of operations, or cash flows that would have been recorded had PagSeguro Brazil been operating as a separate entity. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">From January 1, 2015 through July 31, 2015, when the PagSeguro Brazil financial statements were prepared on a carve out basis, certain assets and liabilities, revenues, costs and expenses directly related to the payment operations were controlled separately. Additionally, other indirect corporate expenses recorded at UOL were allocated to these carve-out financial statements based on assumptions that management believes are reasonable. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">These consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). 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The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 3. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group has adopted all pronouncements and interpretations issued by IASB that were in effect at December 31, 2017. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">These consolidated financial statements for the years ended December 31, 2017, 2016 and 2015 were approved by PagSeguro Group's Board of Directors at a meeting held on March 07, 2018. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.2 Consolidation</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Consolidated financial statements </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group consolidates all entities over which it has control, when it is exposed or has rights to variable returns on its interest in the investee, and has the ability to govern the investee's relevant activities. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The subsidiaries included in the consolidation are described in Note 4. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsidiaries </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsidiaries are all entities over which PagSeguro Digital has control. 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These accounting practices do not apply to transactions under common control. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transactions, balances and unrealized gains on intercompany transactions are eliminated. Unrealized losses are also eliminated, unless the transaction provides evidence of impairment of the asset transferred. The accounting policies of the subsidiaries are changed, where necessary, to ensure consistency with the policies adopted by PagSeguro Group. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.3 Foreign currency translation</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or the dates of valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of these transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.4 Cash and cash equivalents</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents are held for the purpose of meeting short-term cash needs and not for investment or any other purposes. PagSeguro Group classifies as cash equivalents a financial investment that can be immediately converted into a known amount of cash and is subject to immaterial risk of change in value. PagSeguro Group classifies financial instruments with original maturities of three months or less as cash equivalents. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.5 Financial instruments - initial recognition and subsequent measurement</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">i) Financial assets </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Initial recognition and measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets are classified in the following categories: financial assets at fair value through profit or loss, loans and receivables, held-to-maturity, and available-for-sale financial assets. The classification depends on the purpose for which the financial assets were acquired. PagSeguro Group does not classify its financial assets as held-to-maturity or available-for-sale. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derivatives are also categorized as measured at fair value through profit or loss unless they are designated as hedges. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets carried at fair value through profit or loss are initially recognized at fair value, and transaction costs are expensed in the statement of income. Financial assets include cash and cash equivalents, current financial investments, note receivables, receivables from related parties, and other receivables. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsequent measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The subsequent measurement of financial assets depends on their classification, which may be as follows: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Loans and receivables </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Loans and receivables are carried at amortized cost using the effective interest rate method. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets at fair value through profit or loss </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">This category includes derivative financial instruments which do not meet the hedge accounting criteria defined by IAS 39. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets at fair value through profit or loss are presented at fair value in the balance sheet, with the corresponding gains or losses recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group values its financial assets at fair value through profit or loss, as it intends to trade them within a short period of time. Reclassification to loans and receivables, available-for-sale financial assets or held-to-maturity investments depends on the nature of the asset. This valuation does not affect any financial assets designated at fair value through profit or loss at initial recognition, which cannot be subsequently reclassified. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derecognition </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">A financial asset or, where applicable, a part of a financial asset or part of a group of similar financial assets, is derecognized when: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font></p> </td> <td valign="top" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">The rights to receive cash flows from the asset expire; </font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font></p> </td> <td valign="top" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group transfers its rights to receive cash flows from the asset, or assumes an obligation to pay the received cash flows in full to a third party under a “pass-through” arrangement; and (a) transfers virtually all the risks and benefits of the asset, or (b) neither transfers nor retains virtually all the risks and benefits of the asset, but transfers control of the asset. </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When PagSeguro Group has transferred its rights to receive cash flows from an asset and has not transferred or retained substantially all the risks and benefits of the asset, this asset is recognized to the extent of PagSeguro Group's continuing involvement in the asset. In such case, PagSeguro Group also recognizes an associated liability. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that PagSeguro Group has retained. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of the consideration that PagSeguro Group may be required to repay. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">ii) Impairment of financial assets </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group assesses, at the balance sheet date, if there is objective evidence that a financial asset or a group of financial assets is impaired. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">A financial asset or a group of financial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a “loss event”) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Evidence of impairment may include indication that the debtors are experiencing significant financial difficulty, probability that the debtor will enter bankruptcy or other financial reorganization, default or delinquency in interest or principal payments, and indication of a substantial decline in the estimated future cash flows, such as changes in maturity dates or economic conditions related to default. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">iii) Financial liabilities </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Initial recognition and measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities are classified as financial liabilities at fair value through profit or loss, other financial liabilities, or as derivatives designated used for hedge, when appropriate. PagSeguro Group determines the classification of its financial liabilities at initial recognition. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities are initially recognized at fair value and, in the case of other financial liabilities, plus directly related transaction costs. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities include payables to third parties, payables to third parties of related parties, trade payables, trade payables of related parties, borrowings, and other payables. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsequent measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The subsequent measurement of financial liabilities depends on their classification, which may be as follows: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities at fair value through profit or loss </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities at fair value through profit or loss include held-for-trading financial liabilities and financial liabilities designated at fair value through profit or loss at initial recognition. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities are classified as held-for-trading if acquired for sale in the short term. This category includes derivative financial instruments which do not meet the hedge accounting criteria defined by IAS 39. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gains and losses on held-for-trading liabilities are recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other financial liabilities </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">After initial recognition, interest-bearing borrowings are subsequently measured at amortized cost, using the effective interest rate method, and are recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective interest rate amortization is included in “Financial expenses” in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derecognition </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">A financial liability is derecognized when the obligation is discharged, canceled or expires. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and recognition of a new liability, and the difference in the respective carrying amounts is recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">iv) Financial instruments - offsetting </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets and liabilities are presented net in the balance sheet if, and only if, there is an existing and enforceable legal right to offset the amounts recognized and an intention to offset or to realize the asset and settle the liability simultaneously. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">v) Fair value of financial instruments </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The fair value of financial instruments actively traded in organized markets is determined based on quoted market prices at the balance sheet date, without a deduction of transaction costs. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. These techniques include the use of recent arm's length transactions, reference to other similar instruments, discounted cash flow analysis or other valuation methods. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.6 Note receivables</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The amounts are mainly related to receivables from credit/debit card issuers and acquirers originated from transactions through PagSeguro Group platform, and from the sales of credit/debit card readers. If collection is expected in one year or less, they are classified as current assets. If not, they are presented as non-current assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The provision for impairment of note receivables, however based on PagSeguro Brazil's risk assessment the need of provision is immaterial because the note receivables are mainly comprised of transactions approved by large financial institutions that have a low level risk based on ratings received from major credit rating agencies. Additionally, these financial institutions are the legal obligors to the note receivables. See Note 24. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Note receivables are initially recorded at the present value of expected future cash flows. The note receivables from installment transactions is an estimate based on the present value of the future cash flows, using average appropriate terms and rates, which are in accordance with the terms of these transactions. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group incurs financial expenses when an election to receive early payment of note receivables from financial institutions is made. The finance expense is recognized at the time the financial institution agrees to liquidate a note receivable due in installments on a prepaid basis, and it is recorded as Financial expenses in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.7 Inventories</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Inventories consist of debit and credit card readers. Inventories are stated at the lower of cost and net realizable value. The cost method used for inventories is the weighted moving average method. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.8 Property and equipment  </font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Property and equipment are stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items and may also include finance costs related to the acquisition of qualifying assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with these costs will flow to PagSeguro Group and they can be measured reliably. The carrying amount of replaced items or parts is derecognized. All other repairs and maintenance expenses are charged to the statement of income during the year in which they are incurred. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The assets' residual values and useful lives are reviewed at the end of each reporting period, and adjusted on a prospective basis if appropriate. Depreciation is calculated under the straight-line method, based on the estimated useful lives as shown below (in years): </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td width="7%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td width="7%" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="3" valign="bottom" width="15%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Data processing equipment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,5 to 5</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,5 to 5</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Furniture and fittings</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Facilities</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Leasehold improvements</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Machinery and equipment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5 to 10</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Vehicles</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">An asset's carrying amount is immediately written down to its recoverable amount when the asset's carrying amount is greater than its estimated recoverable amount. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts, and are recognized within “Other (expenses) income, net” in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.9 Intangible assets</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Software licenses are capitalized on the basis of the costs incurred to acquire the software and bring it to use. These costs are amortized on the straight-line basis over the estimated useful life of the software (three to five years). </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Costs associated with maintaining computer software programs are recognized as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by PagSeguro Group are recognized as intangible assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Directly attributable costs, which are capitalized as part of the software product, include costs incurred with employees and expenses allocated to software development. Borrowing costs incurred during the software development period may also be capitalized. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other development expenditures that do not meet the capitalization criteria are expensed as incurred. Development costs previously recorded as an expense are not recognized as an asset in a subsequent period, and are presented within “Advisory and consulting services”. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Computer software development costs recognized as assets are amortized over the estimated useful life, which does not exceed five years from the date that technological feasibility is met. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.10 Impairment of non-financial assets</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Non-financial assets are annually reviewed for impairment to determine whether there are any events or changes in economic and technological conditions or in operations that may indicate that an asset is impaired. When applicable, such evidence is identified through the annual impairment test. In order to assess a non-financial asset, it is necessary to estimate its recoverable amount. The recoverable amount of an asset or cash generating unit is the greater of its value in use and its fair value less costs to sell. When the carrying amount of an asset or cash generating unit exceeds its recoverable amount, a provision for impairment is established. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When estimating the value in use of an asset, the future estimated cash flows are discounted to their present value using a pre-tax discount rate that reflects the weighted average cost of capital for the cash generating unit. The net sales price is determined, whenever possible, based on a firm sales contract entered into on an arm's length basis, between well-informed and willing parties, adjusted by expenses attributable to the asset sale, or, when there is no firm sales contract, based on the price in an active market, or the most recent transaction price for similar assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group annually assesses whether there is any indication that a previously recognized impairment loss no longer exists or has decreased. If there is such indication, the asset's recoverable amount is estimated. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset's recoverable amount since the last impairment loss was recognized. The reversal is limited so that the asset's carrying amount does not exceed its recoverable amount, nor exceeds the carrying amount that would have been determined, net of depreciation or amortization, had no impairment loss been recognized for the asset in prior years. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.11 Payables to third parties</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties refer to funds payable and amounts due to merchants that use PagSeguro Brazil platform. PagSeguro Group recognizes the fair value of the transaction which is the transaction amount, net of the transaction cost. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.12 Provisions</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Provisions are recognized when PagSeguro Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount can be estimated reliably. When PagSeguro Group expects the value of a provision to be reimbursed, in whole or in part, for example, due to an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain. Expenses associated with any provisions are presented in the statement of income, net of any reimbursements. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group is a party to legal and administrative proceedings. Provisions are established for all contingencies referring to lawsuits for which it is probable that an outflow of funds will be necessary to settle the contingency/obligation and a reasonable estimate can be made. The assessment of the likelihood of loss includes the evaluation of available evidence, the hierarchy of laws, available case law, recent court decisions and their importance in the legal system, as well as the opinion of outside legal counsel. The provisions are reviewed and adjusted to reflect changes in circumstances. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.13 Revenue recognition</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Revenue comprises the fair value of the consideration received or receivable for the sale of services and goods in the ordinary course of PagSeguro Group's activities. Revenue is presented net of sales and excise taxes and returns. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group recognizes revenue when: (i) the amount of revenue can be reliably measured; (ii) it is probable that future economic benefits will flow to PagSeguro Group; (iii) recognized when control of a good or service is transferred to a customer; and (iv) specific criteria have been met for PagSeguro Group's activities. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group's revenue substantially comprises: </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Symbol;font-size:10.0pt;">·</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Revenue from transaction activities and other services: Revenue from fees charged for intermediation of electronic payments, and other services such as prepaid cards, which are recognized at the time the purchase is approved by the financial institution. Revenues from fees charged for intermediation of electronic payments are recognized on a gross basis and related transaction costs are recognized as Cost of sales and services, since PagSeguro Group is considered to be the principal in the intermediation transaction. PagSeguro Group has primary responsibility for providing the services to customers and also directly sets the prices for such services, independently from the related transaction costs agreed between PagSeguro Group and the card schemes or card issuers; and </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Symbol;font-size:10.0pt;">·</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Revenue from sales: Revenue from sales of credit and debit card readers and similar items, which is recognized at the time the risks and benefits are transferred and when control of a good is transferred to the customers, i.e., on delivery of the equipment. Under Brazilian consumer law, clients have seven days after ordering Point of Sale equipment (“POS devices”) in which to cancel the purchase. Returns of devices are accounted for as deductions from revenue from sales at the time the equipment is returned. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Symbol;font-size:10.0pt;">·</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial income: is recognized as a result of the discount rate charged on the early payments of Payables to third parties (merchants). The income is recognized at the time the merchant agrees to receive a sale in installments on an early payment basis, and it is recorded as Financial income in the statement of income.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.14 Distribution of dividends and interest on own capital</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Distributions of dividends and interest on own capital to PagSeguro Brazil's shareholders are recognized as a liability in the financial statements at year-end, based on the PagSeguro Brazil's bylaws, which require the distribution of a minimum of 1% of the profit for the year as dividends. Any amount that exceeds the minimum required is only accrued on the date such distribution is approved by the shareholders at a General Meeting. However, these provisions do not exist under PagSeguro Digital Memorandum of Association. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The tax benefit of interest on own capital is recognized in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.15 Current and deferred income tax and social contribution</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Current income tax and social contribution </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Tax assets and liabilities for the current year are calculated based on the expected recoverable amount or the amount payable to the tax authorities. The tax rates and tax laws used to calculate the amount are those enacted or substantively enacted at the balance sheet date in the countries where PagSeguro Group operates and generates taxable income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Current income tax and social contribution related to items recognized directly in equity are recognized in equity. PagSeguro Group periodically evaluates the tax positions involving interpretation of tax regulations and establishes provisions when appropriate. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred taxes </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred taxes arise from temporary differences between the tax bases of assets and liabilities and their carrying amounts at the balance sheet date. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax liabilities are recognized for all taxable temporary differences, except in the following situations: </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When the deferred tax liability arises from the initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit; </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">On temporary tax differences related to investments in subsidiaries, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future; </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax assets are recognized on all deductible temporary differences and tax loss carryforwards, to the extent that it is probable that taxable profit will be available against which they can be offset, except when the deferred tax asset related to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit or loss; and </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax assets are recognized on the deductible temporary differences associated with investments in subsidiaries only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and that taxable profit will be available against which the temporary differences can be utilized.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The carrying amount of deferred tax assets is reviewed at each balance sheet date and a deferred tax asset is recognized to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred tax assets to be utilized. Unrecognized deferred tax assets are reviewed, at each balance sheet date, and recognized to the extent that it is probable that future taxable profit will be available to allow their utilization. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Based on the local law of Cayman (The Companies Law of 1960), there is no taxation on the income earned in the companies based in this locality, therefore, we do not have tax impacts for the PagSeguro Digital. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">For the subsidiaries of PagSeguro Digital, deferred tax assets and liabilities are measured using the prevailing tax rates in the year in which the assets will be realized and the liabilities will be settled. The currently defined tax rates of 25% for income tax and 9% for social contribution are used to calculate deferred taxes. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax assets and liabilities are presented on a net basis when there is a legally or contractually enforceable right to offset the tax asset against the tax liability, and the deferred taxes are related to the same taxable entity and subject to the same tax authority. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.16 Employee benefits - Benefits of performance</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group recognizes a liability and an expense for benefits of performance based on a methodology that takes into consideration the target of performance attributed to PagSeguro Group's stockholders after certain adjustments. PagSeguro Group recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.17 Business combination</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group accounts for business combinations using the acquisition method. The cost of an acquisition is measured as the sum of the consideration transferred, based on its fair value on the acquisition date. Costs directly attributable to the acquisition are expensed as incurred. The assets acquired, and liabilities assumed are measured at fair value, classified and allocated according to the contractual terms, economic circumstances and relevant conditions on the acquisition date. Goodwill is measured as the excess of the consideration transferred over the fair value of net assets acquired. If the consideration transferred is smaller than the fair value of net assets acquired, the difference is recognized as a gain on bargain purchase in the statement of operations. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.18 New standards not yet effective</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The following new standards have been issued by IASB, but are not effective for 2017: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">IFRS 16 - “Leases” - this new standard requires lessees to recognize the liability of the future payments and the right of use of the leased asset for virtually all lease contracts, including operating leases. Certain short-term and low-value contracts may be out of the scope of this new standard. The criteria for recognition and measurement of leases in the financial statements of the lessors are substantially maintained. IFRS 16 is effective for years beginning on or after January 1, 2019 and replaces IAS 17 - “Leases” and related interpretations. Management has performed a preliminary assessment and did not identify any material impacts to date. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">There are no other IFRS or IFRIC interpretations not yet effective that could have a material impact on PagSeguro Group financial statements. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.19 New and revised pronouncements in effect</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The following new standards have been issued by IASB: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">IFRS 9 - “Financial Instruments”: addresses the classification, measurement and recognition of financial assets and liabilities. The complete version of IFRS 9 was issued in July 2014 and is effective as from January 1, 2018. It replaces the guidance included in IAS 39 related to the classification and measurement of financial instruments. The main amendments brought by IFRS 9 are: (i) new criteria for the classification of financial assets; (ii) new impairment model for financial assets, which is based on expected losses, replacing the current model of incurred losses; and (iii) relaxation of the new requirements for the adoption of hedge accounting. Management evaluated the new guidelines introduced by IFRS 9 and did not identify any material impact for PagSeguro Group. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">IFRS 15 - “Revenue from Contracts with Customers”: this new standard introduces the principles to be applied by an entity to determine the measurement and recognition of revenue. This standard is based on the principle that revenue is recognized when control of a good or service is transferred to a customer, and, therefore, the principle of control will replace the principle of risks and benefits. This standard will replace IAS 11 - “Construction Contracts”, IAS 18 - “Revenues” and related interpretations, and becomes effective on January 1, 2018. Management evaluated the new guidelines introduced by IFRS 15 and did not identify any material impact for PagSeguro Group. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Therefore, changes to standards or new pronouncements applicable to the years presented in the consolidated financial statements were not relevant to PagSeguro Group, for retrospective disclosure and disclosure of amounts. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">3. Critical accounting estimates and judgments</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accounting estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Based on assumptions, PagSeguro Group makes estimates concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(a)</font></b></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Estimated useful life of intangible assets </font></b></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group uses an estimated useful life to calculate and record the amortization applied to its intangible assets which may differ from the actual term over which the intangible assets are expected to generate benefits for PagSeguro Group. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The amortization of software usage rights is defined based on the effective period of the license contracted. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The amortization of internally developed software is defined based on the period over which the software will generate future economic benefits. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(b)</font></b></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred income tax and social contribution </font></b></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group recognizes deferred income tax and social contribution based on future taxable profit estimates for the next ten years. These projections are periodically reviewed and approved by management. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(c)</font></b></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Provision for contingencies </font></b></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group recognizes provisions for civil and labor suits. The assessment of probability of loss includes assessing the available evidence and jurisprudence, the hierarchy of laws and most recent court decisions. Provisions are reviewed and adjusted to take into account changes in circumstances such as the applicable limitation period, findings of tax inspections and additional exposures identified based on new issues or decisions of courts. </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">4. Consolidation of subsidiaries</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="21" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">At December 31, 2017</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Company</font></b></p> </div> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Assets</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Equity</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Net income (loss)<br /> for the year</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Ownership<br /> - %</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Level</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Brazil</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,553,504</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,686,516</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">866,988</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.99</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Direct</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net+Phone</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,018,218</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">974,260</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">43,958</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,441</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.99</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Boa Compra</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">629,246</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">609,284</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">19,962</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,715</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.99</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">BCPS</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,236</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">251</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">985</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">429</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.50</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">R2TECH</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,460</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">894</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,566</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,307</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">51.00</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">BIVA</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,482</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,730</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">752</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,569</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">59.31</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">FIDC</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">182,163</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">404</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">181,759</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,758</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">100</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><u><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Operations of the subsidiaries </font></u></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="PT-BR" style="font-family:Symbol;font-size:10.0pt;">·</font><font lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Brazil: is engaged in providing financial technology solutions and services and the corresponding related activities. </font><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Brazil has investments in the following companies:</font></p> <p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net+Phone: Is mainly engaged in acquisition and selling POS (Point of sale) devices and similar items. On July 29, 2016, UOL transferred its investment in Net+Phone to PagSeguro Brazil, as a capital contribution, in the amount of R$ 44,317.</font></p> <p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Boa Compra: Allows its clients to operate cross-border transactions where the merchant and consumer are located in different countries across Latin America, Spain, Portugal and Turkey. On April 5, 2011, UBN Internet Ltda. (“UBN”), a subsidiary of UOL, acquired a 51% equity interest in Boa Compra. On July 26, 2013, UBN acquired additional 24% equity interest, increasing its total ownership in Boa Compra to 75%. In May 2016, UBN acquired the remaining 25% equity interest, becoming the owner of 100% of Boa Compra. On July 29, 2016, UBN's equity interest in Boa Compra was spun off to its parent company UOL. Subsequently, UOL transferred its 100% equity interest in Boa Compra to PagSeguro Brazil as a capital contribution, in the total amount of R$ 12,034.</font></p> <p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">BCPS: On January 1, 2017, PagSeguro Brazil acquired 99.5% of the share capital and obtained the control of BCPS. BCPS's main activity is to enable clients of the PagSeguro Brazil Group to operate cross-border transactions where the merchant and the consumer are located in different countries of Latin America, Spain, Portugal and Turkey.</font></p> <p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">R2TECH: On May 2, 2017, PagSeguro Brazil acquired 51% of the share capital and obtained the control of R2TECH. R2TECH's main activity is in the information technology industry, focused on the processing of back-office solutions, including sales reconciliation, gateway solutions and services, the capture of credit cards with administrators and acquirers.</font></p> <p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">BIVA: On October 3, 2017, PagSeguro Brazil acquired a controlling interest of 51.41% in BIVACO Holdings SA, whose main objective is to acquire participations in other companies, commercial or civil, as partner, shareholder or quotaholder, as well as the management of these holdings. In November 2017, PagSeguro Brazil acquired an additional interest in BIVA, bringing our total interest to 59.3% of BIVA's. BIVA has investments in the following subsidiaries:</font></p> <p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Wingdings;font-size:10.0pt;">§</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">  </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Biva Serviços Financeiros S.A : whose main objective is the intermediation between investors, financial institution and credit borrowers by medium of electronic platform;</font></p> <p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Wingdings;font-size:10.0pt;">§</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">  </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Biva Correspondente Bancário Ltda: whose main objective is to structure financing for small and medium enterprises following the model crowdfunding, in the peer-to-peer modality.</font></p> <p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:.25in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">FIDC: On October 4, 2017, FIDC was constituted for the purpose of acquiring payables to third parties held by PagSeguro Brazil (“Assignor”). PagSeguro Brazil consolidates the financial statements of FIDC, which represents an investment fund constituted to finance the growth of PagSeguro Brazil's early payment of receivables feature. The consolidation is justified by the fact that the risks of default and the responsibility for expenses and administration related to the FIDC are linked to subordinated quotas held by the PagSeguro Brazil.</font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">5. Segment reporting</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Operating segments are reported consistently with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, responsible for allocating resources and assessing the performance of the operating segments is the Board of Directors, which is also responsible for making PagSeguro Group strategic decisions. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Considering that all decisions are based on consolidated reports, and that all decisions related to strategic and financial planning, purchases, investments and the allocation of funds are made on a consolidated basis, PagSeguro Group and its subsidiaries operate in a single segment, as payment arrangement agents. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group is domiciled in Brazil and has revenue arising from local customers and customers located abroad. The main revenue consists of sales to the domestic market. The international market represents 2%, 5% and 8% for the years 2017, 2016 and 2015 respectively. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">6. Cash and cash equivalents </font></b></h1> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Short-term bank deposits</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">66,767</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">66,767</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,969</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents are held for the purpose of meeting short-term cash needs and include cash on hand, deposits with banks and other short-term highly liquid investments with original maturities of three months or less, and with immaterial risk of change in value. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">7. Financial investments </font></b></h1> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Short-term investment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">210,103</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">131,239</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">210,103</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">131,239</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Short-term investments consist of two repurchase agreements, with an average return of 96.0% of the Interbank Deposit Certificate (CDI). This financial asset was classified as fair value through profit and loss. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">8. Note receivables</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="26" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="14" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Legal obligors</font></b></p> </div> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Visa</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Master</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Hipercard</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Visa</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Master</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Itaú</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">237,335</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">751,542</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">250,817</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,239,694</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99,433</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">244,741</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">344,174</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bradesco</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">333,108</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">83,160</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">416,268</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">115,009</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">36,032</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">151,041</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Banco do Brasil</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">287,334</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">84,504</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">371,838</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">91,414</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">29,425</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">120,839</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">CEF</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">69,974</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">83,684</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">153,658</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,837</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30,979</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">54,816</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Santander</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">122,614</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">310,946</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">433,560</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">48,695</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,085</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">127,780</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">141,802</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">393,999</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">535,801</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">50,716</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">93,473</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">144,189</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total card issuers (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,192,167</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,707,835</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">250,817</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,150,819</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">429,104</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">513,735</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">942,839</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Vero</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">21,463</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331,807</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cielo</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">232,315</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">355,949</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Redecard</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">45,289</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">56,025</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amex</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,608</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,090</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31,864</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24,804</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total acquirers (ii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">370,539</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">772,675</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">991</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total other</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">991</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total note receivables</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,192,167</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,707,835</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">250,817</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,522,349</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">429,104</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">513,735</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,715,514</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Card issuers: receivables derived from transactions where PagSeguro Brazil acts as the financial intermediary in operations with the issuing banks, related to the intermediation agreements between PagSeguro Brazil and Visa or Mastercard. However, PagSeguro Brazil's contractual note receivables are with the financial institutions, which are the legal obligors on the note receivables. Additionally, amounts due within 27 days of the original transaction, including those that fall due with the first installment of installment receivables, are guaranteed by Visa or Mastercard, as applicable, in the event that the legal obligors do not make payment. PagSeguro Brazil started operating directly as a financial intermediary in 2016.</font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(ii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Acquirers: refers to card processing transactions to be received from the acquirers, which are third parties acting as financial intermediaries between the issuing bank and PagSeguro Brazil. This balance also includes the receivables from sales of debit and credit card readers.</font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The maturity analysis of note receivables is as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="83%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 30 days</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,213,929</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">970,086</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 31 to 120 days</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,045,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">609,689</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 121 to 180 days</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">114,953</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">43,144</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 181 to 360 days</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">147,642</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">92,595</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,522,349</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,715,514</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">9. Related-party balances and transactions</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group is controlled by UOL (incorporated in Brazil), which owns 99.99% of the shares as of December 31, 2017, prior to PagSeguro's Digital initial public offering in January 2018. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">i.</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Balances and transactions with related parties: </font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="14" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Receivables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Payables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Receivables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Payables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Immediate parent</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - cash management (a)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,721</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">300,809</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - sales of services (b)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">32,286</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">59,692</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Affiliated companies</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - cash management (a)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,383</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - sales of services (b)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">621</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,360</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Concurso Virtual S.A.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,522</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,900</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfolha Transportadora e Distribuição Ltda.</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">745</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,196</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Livraria da Folha Ltda.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,078</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,285</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Empresa Folha da Manhã S/A</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,320</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">21</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Others</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">529</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">412</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,723</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,101</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">300,809</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">76,249</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(a)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">      </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The receivables/payables with related parties arising from cash management are settled within one month and are free of interest. Shared service costs are offset with these balances. The receivables are unsecured in nature and no provisions are held against receivables from related parties. <br /> In April and September 2017, PagSeguro Brazil decided to settle a portion of its outstanding balance with related parties, as described below. <br /> On April 30, 2017, PagSeguro Brazil approved the settlement of R$22,149 related to interest on own capital that was distributed with respect to the year ended December 31, 2016. PagSeguro Brazil agreed with UOL that the full amount of this outstanding interest on own capital would be offset against receivables under the centralized cash management with UOL. <br /> In addition, as described in Note 19, on September 29, 2017 PagSeguro Brazil approved and distributed a total of R$238,803 in dividends, consisting of (i) dividends related to the year ended December 31, 2016 in the amount of R$96,008; and (ii) dividends related to the six-month period ended June 30, 2017 in the amount of R$142,794. PagSeguro Brazil agreed with UOL to offset R$184,530 from the total amount of R$238,803 against receivables under the centralized cash management with UOL and that PagSeguro Brazil would pay the remaining balance of R$54,273 in cash to UOL. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(b)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Sale of services refers mainly to purchase of (i) advertising services from UOL and (ii) services related to technical support in computing and hosting from UOL Diveo Tecnologia Ltda. (“UOL Diveo”), which started in 2016. <br /> In addition, during 2016, an amount of R$ 63,264 (composed by R$ 26,610 and R$ 36,654) previously recorded as accounts payable was used for capital contributions, as described in Note 19.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Revenue</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Expense</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Revenue</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Expense</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Revenue</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Expense</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Immediate parent</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - shared service costs (a)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">58,375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">12,369</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - shared service costs - carved out (b)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">12,032</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - sales of services (c)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">689</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">46,976</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">81,007</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,458</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - sales of services - carved out (d)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">36,737</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Affiliated companies</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - shared service costs (e)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,710</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - sales of services (f)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,953</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">18,069</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">25</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Concurso Virtual S.A.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">117</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">134</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">389</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfolha Transportadora e Distribuição Ltda.</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,405</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,500</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">806</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Livraria da Folha Ltda.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">319</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">349</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">347</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Others</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">316</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">130</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">261</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">121</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,480</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">149,863</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">744</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">137,885</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">857</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">84,427</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(a)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">      </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Shared services costs mainly related to (i) payroll costs, (ii) IT structure / software and (iii) rental costs are incurred by the parent company UOL and are charged to PagSeguro Brazil pursuant to contractual agreements. Such costs are included in administrative expenses. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(b)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The main costs that the UOL Group allocated to PagSeguro Brazil (based on the number of employees and/or the time worked, basis that management believes is reasonable), are (i) payroll costs, (ii) IT structure / software and (iii) rental costs. The allocated costs to the carve-out financial statements are included in administrative expenses. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(c)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">      </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Sale of services related to advertising services are incurred by the parent company UOL and are charged to PagSeguro Brazil pursuant to contractual agreements. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(d)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Sales of services related to advertising services were allocated based on intercompany cost, a basis that management believes is reasonable from January 2014 through July 2015. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(e)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">      </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Shared services costs are incurred by the affiliated company UOL Diveo and are charged to PagSeguro Brazil pursuant to contractual agreements. The main costs are related to IT structure/software. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(f)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">      </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Sale of services from the affiliated company UOL Diveo related to technical support in computing and hosting services (started in 2016) and are charged to PagSeguro Brazil pursuant to contractual agreements.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">ii.</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Key management compensation </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Key management personnel includes only short term benefits of PagSeguro Group executive officers. In 2017, the total compensation paid to the executive officers amounted to R$ 3,487, (R$ 2,658 and R$ 2,243 in 2016 and 2015, respectively). </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">10. Business combinations</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The acquisitions described below are in accordance with PagSeguro's Digital business strategies, as well as the products offered by them and their client portfolio. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Book value of<br /> purchased<br /> entities</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Purchase</font></b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"><br /> </font><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">accounting</font></b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"><br /> </font><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">adjustment</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Fair value of<br /> assets and<br /> liabilities<br /> acquired</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">The assets and liabilities arising from the acquisition</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">51</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">51</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Assets acquired</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,598</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,598</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Liabilities assumed</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,312</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,312</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Property, plant and equipment and intangible assets</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">643</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,141</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Value of net assets</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,980</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,478</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Goodwill</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,184</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bargain purchase gain</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(87</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(87</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Purchase cost</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,077</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,077</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Consideration for the purchase settled in cash</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,276</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents at the subsidiary acquired</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(51</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Amount paid on acquisitions less cash and cash equivalents acquired</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,225</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">a)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">BCPS </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">On January 1, 2017, PagSeguro Brazil acquired 99.5% of the share capital and obtained the control of BCPS. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The amount paid in the acquisition was R$406, which was settled in cash on that date. The fair value of the acquired assets, amounting R$568, and the assumed liabilities amounting of R$75 at the acquisition date are substantially similar to their book value. A bargain purchase gain of R$87 arose from the acquisition of BCPS. The impacts of the acquisition were not considered material to PagSeguro Brazil. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">b)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">R2TECH </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">On May 2, 2017, PagSeguro Brazil acquired 51% of the share capital and obtained control of R2TECH. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The consideration for the purchase was R$9,200, of which R$2,940 was settled in cash on the acquisition date and R$460 was paid on August 14, 2017. R$2,300 and R$3,500 are variable installments, subject to the attainment of some specific targets for the year of 2017 and 2018, respectively, established in the acquisition agreement, with payment deadline up to 10 business days after the conclusion of the Company's audited financial statements. Based on current management expectations, these performance goals will be achieved. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The fair value of the assets acquired, in the amount of R$348, and the liabilities assumed, in the amount of R $215 on the acquisition date, is substantially similar to their book value. The goodwill of R$9,067 arising from the acquisition is attributable to the future profitability of the business and the synergy with the products offered by the PagSeguro Group. During the year ended December 31, 2017, PagSeguro Group identified some changes to the initial purchase price allocation (PPA), which were completed in the measurement period as defined in IFRS, as shown below: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Intangible assets-Portfolio of customers: the fair value attributed to the Customer Portfolio was R$ 768, using the real discount rate (without inflationary effects) of 15.30%; <br /> <br /> </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">ii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Intangible assets-Non-competition: the value of the fair value assigned was R$242, using the real discount rate (without inflationary effects) of 15.30%; <br /> <br /> </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">      </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">iii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Intangible assets-Right-to-use software: the fair value was R$1,488, using the real discount rate (without inflationary effects) of 15.30%.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">c)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">BIVA </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">On October 3, 2017, PagSeguro Brazil acquired control with the acquisition of a 51.41% interest in Bivaco Holding SA. On November 30, 2017 there was an additional interest of 7.90 was acquired, increasing PagSeguro Brazil's interest to 59,31%. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The total consideration paid for the purchases was R$18,470, which was settled in cash on the acquisition date. The fair value of the assets acquired, in the amount of R$2,350 and the liabilities assumed, in the amount of R$997 on the acquisition date, are substantially similar to their book value. The goodwill of R$17,117 arising from the acquisition is attributable to the future profitability of the business in synergy with the products offered by PagSeguro Group. The purchase price allocation may be subject to changes in the measurement period as defined in IFRS. </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">11. Property and equipment</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(a)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Property and equipment is composed as follows: </font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated<br /> depreciation</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Data processing equipment</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">11,024</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,114</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,910</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Facilities</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">53</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(23</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Machinery and equipment</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,738</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(444</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,294</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Furniture and fittings</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">397</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(66</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Leasehold improvements</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">263</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Vehicles</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">132</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">90</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16,607</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,718</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,889</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="81%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="81%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="81%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated<br /> depreciation</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="81%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Data processing equipment</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,574</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,692</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,882</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="81%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Facilities</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">52</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(19</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">33</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="81%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Machinery and equipment</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">548</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(140</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">408</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="81%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Furniture and fittings</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">190</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(40</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">150</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="81%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Leasehold improvements</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">100</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(15</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">85</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="81%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="81%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,464</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,906</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,558</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="81%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(b)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">The changes in cost and accumulated depreciation were as follows: </font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Data<br /> processing<br /> equipment</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Facilities</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Machinery<br /> and<br /> equipment</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Furniture<br /> and<br /> fittings</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Leasehold<br /> improvements</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Vehicles</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,574</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">52</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">548</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">190</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">100</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,464</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated depreciation</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,692</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(19</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(140</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(40</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(15</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,906</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,882</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">33</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">408</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">150</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">85</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,558</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Opening balance</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,882</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">33</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">408</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">150</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">85</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,558</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Purchases</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,316</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,171</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">176</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">94</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">114</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,873</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Acquisition of subsidiary</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">134</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">19</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">69</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">18</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">271</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,422</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(4</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(304</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(26</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(14</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,812</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,910</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,294</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">90</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,889</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">11,024</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">53</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,738</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">397</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">263</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">132</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated depreciation</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,114</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(23</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(444</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(66</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,718</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,910</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,294</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">90</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,889</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">12. Intangible assets</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(a)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Intangible assets are composed as follows: </font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated<br /> amortization</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Expenditures related to software and technology (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">241,490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(115,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Software licenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,510</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,043</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Customer relationships</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,981</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(91</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,890</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Goodwill (ii)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">276,667</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(117,799</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">158,868</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated<br /> amortization</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Expenditures related to software and technology (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">143,989</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(61,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">82,131</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Software licenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,393</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,416</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,977</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">149,382</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,274</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">86,108</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">PagSeguro Group capitalizes the expenses incurred with the development of platforms, which are amortized over the useful lives, within a range from three to five years. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(ii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Goodwill provided on the acquisition of the companies R2TECH and BIVA as described in Note 10. </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="100%" style="padding:0in 0in 0in 0in;"></td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(b)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">The changes in cost and accumulated amortization were as follows: </font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Expenditures with<br /> software and<br /> technology (i)</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Software<br /> licenses</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Customer<br /> relationships</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Goodwill (ii)</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">143,989</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,393</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">149,382</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated amortization</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(61,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,416</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,274</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">82,131</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,977</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">86,108</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Opening balance</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">82,131</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,977</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">86,108</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additions</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">97,491</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,210</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">971</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,184</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,856</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Acquisition of subsidiary</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,419</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,429</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,488</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,010</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortization</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortization</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(53,807</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(627</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(91</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(54,526</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,890</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">158,868</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">241,490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,510</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,981</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">276,667</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated amortization</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(115,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,043</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(91</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(117,799</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,890</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">158,868</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">13. Payables to third parties </font></b></h1> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,080,569</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,304,031</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,080,569</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,304,031</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties correspond to amounts to be paid to commercial establishments with respect to transactions carried out by their card holders, net of the intermediation fees and discounts applied. PagSeguro Brazil's average settlement terms agreed upon with commercial establishments is up to 30 days. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">14. Borrowings </font></b></h1> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="44%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Type</font></b></p> </div> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Interest rate</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Average<br /> annual<br /> interest rate %</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Maturity</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,<br /> 2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,<br /> 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings in foreign currency</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bank Borrowings</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Fixed interest rates</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,36365</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">% </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">January 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">133,874</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bank Borrowings</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Fixed interest rates</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,86450</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">% </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">March 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">71,330</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">205,204</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">In July 2016, PagSeguro Brazil obtained a borrowing denominated in foreign currency in the amount of US$ 40,000 thousand, equivalent to approximately R$ 129,390, maturing in January 2017. In addition, in September 2016, PagSeguro Brazil obtained another borrowing in foreign currency in the amount of US$ 21,766 thousand, equivalent to approximately R$ 70,000, maturing in March 2017. At the same time, PagSeguro Brazil contracted derivatives (Swaps) for both borrowings, for the specific purpose of protecting them against exchange rate fluctuations. The derivative rate corresponds to 110% of the average daily interest rate of the Interbank Deposits (DIs). </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interest on borrowings were paid at the maturities of the transactions, together with the total settlement of the financial instruments during the year ended December 31, 2017. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The borrowing agreements did not contain any collateral clauses or covenants to be complied with by PagSeguro Brazil. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">15. Salaries and social charges </font></b></h1> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Profit sharing</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,237</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,696</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Salaries payable</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,758</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,682</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social charges</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,102</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,225</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payroll accruals</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,807</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,877</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,365</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">789</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34,269</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">20,269</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="#365F91" lang="PT-BR" style="font-family:Cambria,serif;font-size:18.0pt;"> </font></b><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">16. Taxes and contributions</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Taxes</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Services tax (i)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">14,837</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,382</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Value-added tax on sales and services (ii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,830</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,596</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social integration program (iii)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,918</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,690</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Social contribution on revenues (iii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">59,358</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16,544</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution (iv)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">35,474</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,264</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">690</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,681</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24,902</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Judicial deposits (v)</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Services tax</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(11,375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Value-added tax on sales and services</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social integration program</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,188</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,516</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social contribution on revenues</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(50,389</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(15,475</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(72,617</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(17,991</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">52,064</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,911</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Refers to taxes on revenue from transaction activities. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(ii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Refers to the Value-added Tax on Sales and Services (ICMS) amounts due by Net+Phone, related to tax substitution and tax rate differential, applied on sales of credit and debit card readers. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(iii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Refers mainly to Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) charged on financial income. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(iv)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Refers to the income tax and social contribution payable on current income taxes and contribution. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(v)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">PagSeguro Group obtained court decisions to deposit the amount related to the payments in escrow for matters discussed in items “i”, “ii” and “iii” above.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">17. Provision for contingencies</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Some companies of PagSeguro Group are party to labor and civil litigation in progress and are discussing such matters at the administrative and judicial levels, which, when applicable, are supported by judicial deposits. The provisions for probable losses arising from these matters are estimated and periodically adjusted by management, supported by the opinion of its external legal advisors. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">    2017    </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">    2016    </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Civil</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,326</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">555</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Labor</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">322</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Current</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,648</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">680</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group is a party on tax lawsuits involving risks classified by legal advisors as possible losses of approximately R$25,800 and R$29,726, for the years ended in December 31, 2016 and 2017, respectively. PagSeguro Group is not party on civil and labor lawsuits classified by management as possible losses. </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">18. Income tax and social contribution</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(a) Deferred income tax and social contribution: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Tax losses</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Tax credit</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Technological<br /> inovation (i)</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Other<br /> temporary<br /> differences-<br /> ASSETS</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Other<br /> temporary<br /> differences-<br /> LIABILITY</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax</font></b></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2015</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,363</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(6,257</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,363</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">469</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Included in the statement of income</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,312</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,121</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">284</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(20,149</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Taken directly to equity</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,606</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,606</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,051</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,606</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(24,378</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,647</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(16,074</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Included in the statement of income</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">436</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(721</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(16,814</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,995</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,616</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,278</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,487</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,885</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(41,192</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">32,642</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,616</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,794</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The main temporary differences representing the balance of the deferred tax liability refers to the benefit granted by the Technological Innovation Law (Lei do Bem), which reduces the tax charges on the capitalized amount of property and equipment.</font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax assets are recognized for tax loss carry-forwards to the extent that the realization of the related tax benefit through future taxable profits is probable. Tax losses do not have expiration date. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The estimated realization of deferred tax assets in non-current assets and liabilities is as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="67%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="14" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Asset</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Liability</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Asset</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Liability</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2017</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,126</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2018</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,895</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(20,728</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,126</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2019</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,040</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,008</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,126</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2020</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,111</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,454</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2021</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">982</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,434</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,545</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2022</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">20,987</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(185</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">37,015</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42,809</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,305</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(24,378</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(b) Reconciliation of the income tax and social contribution expense </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group computed income tax and social contribution under the taxable income method. The following is a reconciliation of the difference between the actual income tax and social contribution expense and the expense computed by applying the federal statutory rate for the years ended December 31, 2017, 2016 and 2015: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="69%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December, 31</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Profit for the period before taxes</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">683,504</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">155,359</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">40,315</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Statutory rate</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="69%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Expected income tax and social contribution</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(232,391</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(52,822</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(13,707</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution effect on:</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Permanent additions (exclusions)</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Participation in the results of partners and managers</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(314</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(234</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gifts</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(149</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td rowspan="2" valign="top" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">R&D and technological innovation benefit - Law 11.196/05(i)</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24,987</font></p> </td> <td nowrap="nowrap" rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,898</font></p> </td> <td nowrap="nowrap" rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">11,596</font></p> </td> <td nowrap="nowrap" rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interest on own capital</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,860</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Tax Incentives - Law Rounet Art. 18</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,981</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other additions</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,402</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">485</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,333</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="69%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution expense</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(204,711</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27,580</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(4,826</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="69%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution - current</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(214,988</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(7,431</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,587</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="69%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution - deferred</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,278</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(20,149</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,239</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Refers to the benefit granted by the Technological Innovation Law (Lei do Bem), which reduces the income tax charges, based on the amount invested by PagSeguro Group on some specific property and equipment. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">19. Equity</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><u><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">a) Share capital </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at August 1, 2017, PagSeguro Brazil carried out a reverse share split of 2:1 shares which was approved and effective at the same date. As a consequence of the reverse share split, the share capital previously represented by 524,577,214 common shares, was reduced to 262,288,607 common shares. The reverse share split was accounted retrospectively. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017, all issued shares were fully paid. At December 31, 2017, the share capital, after retroactively reflecting the reverse share split, is represented by 262,288,607 common shares, with no par value. </font><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Share capital is composed of the following shares: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015 shares outstanding (1)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">220,808,044</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Capitalization of control party related party payable (2)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">13,305,204</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Issuance of shares to UOL for transfer of Net+Phone and Boa Compra (3)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,175,359</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2016 shares outstanding</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2017 shares outstanding</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-left:0in;margin-right:0in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">PagSeguro Brazil has reflected in its statement of changes in shareholders' equity the issuance of shares during the periods that such shares were issued. For earnings per share purposes, PagSeguro Brazil has considered 262,288,607 as outstanding during each of the years ended December 31, 2017 and 2016, as shares in (1), (2) and (3) above were issued to UOL, the control party, as part of the recapitalization.  </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The shareholder UOL increased PagSeguro Brazil share capital on August 1, 2015 by the amount of R$ 329,961 (164,980,523 shares) and on December 30, 2015, by the amount of R$ 69,087 (34,543,522 shares), in the total amount of R$ 399,048, through the transfer of assets and liabilities related to payment operations which had been previously recorded in UOL, thus centralizing these activities in PagSeguro Brazil from thereon, resulting in total shares outstanding at December 31, 2015 of 220,808,044; </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">On May 31 2016, UOL capitalized balances of related parties as a capital contribution in the amount of R$ 26,610 (13,305,204 shares); </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(3)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">On May 31 2016, UOL capitalized balances of related parties as a capital contribution in the amount of R$ 36,654 (18,327,103 shares) in Net+Phone. After that, as described in Note 2, in July 2016, UOL transferred its investment in Boa Compra and Net+Phone to PagSeguro Brazil, as a capital contribution in the amount of R$ 56,351 (28,175,359 shares).</font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">b) Legal reserve </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The legal reserve is established pursuant to the bylaws, at 5% of annual profit, up to the limit of 20% of paid-up share capital. The legal reserve will be used only for capital increases or absorption of losses. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">c) Profit retention reserve </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Brazil management is proposing the establishment of a profit retention reserve totaling R$ 312,047, relating to the profit for the year ended December 31, 2017 to cover PagSeguro Brazil capital budget, to be approved by the shareholders following the issuance of the financial statements. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">d) Dividends </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Pursuant to the bylaws, 1% of the profit of PagSeguro Brazil will be distributed as dividends to the shareholders. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Brazil bylaws establish that profit for the year and interest on own capital should be allocated, in full or in part, to the constitution of reserves. Presented below are the dividends distributed by each entity consolidated in these financial statements other than Net+Phone and BIVA which recorded accumulated losses in all periods presented: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">PagSeguro Brazil</font></b></p> </div> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Net income for the year</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">115,727</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">37,010</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net investment</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27,209</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net income</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">115,727</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,801</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer to legal reserve (5%)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(23,939</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,786</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Adjusted income for the year</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">454,842</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">109,941</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,311</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Mandatory minimum dividends (1%)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,548</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">93</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additional dividends proposed (ii)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234,255</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total dividends distributed</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">238,803</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">93</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Interest on own capital (i)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,059</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Number of common shares</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,289</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,289</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">220,808</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends per share (in reais)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.9105</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0004</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interest on own capital</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0994</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The distribution of interest on own capital was approved in the shareholders' meeting held on December 30, 2016. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">(ii)</font><font lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">At the Extraordinary General Shareholders Meeting held on September 29, 2017, PagSeguro Brazil's shareholders approved the distribution of (i) R$142,795 of dividends related to the six-month period ended June 30, 2017 and (ii) R$96,008 in additional dividends related to the year ended December 31, 2016. The total dividends distributed amounted to R$238,803, of which R$184,530 was offset against receivables under the centralized cash management with UOL and the balance of R$54,272 was paid in cash by PagSeguro Brazil to UOL. </font><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">For further details, see Note 9. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Boa Compra</font></b></p> </div> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Net income for the year</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,715</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,625</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer to legal reserve (5%) *</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Adjusted income for the year</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,715</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,625</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Mandatory minimum dividends (1%)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additional dividends proposed</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">65</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total dividends distributed</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">81</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Number of common shares</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,381,317</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,381,317</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">198,557</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends per share (in reais)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0,0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0,0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0,4079</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Wingdings;font-size:8.0pt;">v</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">  </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Allocation to legal reserve was not required because the legal reserve reached the limit of 20% of share capital. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">20. Earnings per share</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Basic and diluted earnings per share are calculated by dividing the profit attributable to shareholders of PagSeguro Group by the weighted average number of common shares issued and outstanding during the year: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Profit attributable to owners of the Company</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">127,186</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">35,084</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Weighted average number of common shares</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Basic and diluted earnings per share - in reais</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1.8254</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.4849</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.1338</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The denominator was retrospectively adjusted for the issuance of new shares as a result of the reorganization of companies under common control, as further described in Note 1, as well as to the reverse share split approved and executed on August 01, 2017 (See note 19). </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group's basic earnings per share equal its diluted earnings per share, since PagSeguro Group does not have any dilutive instruments. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">21. Total revenue and income </font></b></h1> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Gross revenue from transaction activities and other services</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,391,381</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">543,818</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">305,298</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gross revenue from sales</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">655,153</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">371,517</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">238,947</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gross financial income (i)</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">858,410</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">411,413</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">243,566</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other financial income</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,576</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,337</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,744</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Total gross revenue and income</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,913,520</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,332,085</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">798,556</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deductions from gross revenue from transactions activities and other services (ii)</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(167,120</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,793</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(37,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deductions from gross revenue from sales (iii)</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(183,229</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(110,923</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(62,430</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deductions from gross financial income (iv)</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(39,786</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,984</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(24,104</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Total deductions from gross revenue and income</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(390,135</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(193,700</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(123,635</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total revenue and income</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,523,385</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,138,385</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">674,920</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Includes (a) interest from early payment related to the discount of notes payable to third parties paid in advance and (b) interest on note receivables due in installments. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(ii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Deductions consist of services taxes. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(iii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The deductions are composed of sales taxes and returns. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(iv)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Deductions consist of taxes on financial income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">22. Expenses by nature </font></b></h1> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transactions costs</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(661,067</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(283,630</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(145,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of goods sold</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(451,635</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(233,419</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(178,608</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Marketing and advertising</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(275,394</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(204,857</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(153,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Personnel expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(105,794</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,280</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(48,130</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial expenses (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(104,544</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(68,301</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29,696</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Chargebacks (ii)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(47,854</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(31,557</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27,490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation and amortization (iii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(51,571</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(31,246</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,580</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(142,022</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(66,737</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(32,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,839,881</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(983,027</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(634,606</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Classified as:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of services</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(829,661</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(357,811</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(191,710</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of sales</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(494,719</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(265,856</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(190,773</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Selling expenses</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(245,759</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(199,937</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(162,642</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Administrative expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(153,177</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(84,461</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(61,129</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial expenses</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(104,544</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(68,301</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29,696</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other (expenses) income, net</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(12,021</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(6,660</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,345</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,839,881</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(983,027</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(634,606</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Our financial expenses include (a) the charges we incur to obtain early payment of receivables owed to us by card issuers and acquirers in order to finance our early payment of receivables feature for merchants, (b) interest expense on our other borrowings and (c) the cost of swaps relating to our foreign currency borrowings. </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(ii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">Chargebacks refer to losses recognized in the period reflecting the risks of fraud associated with card processing operations, as detailed in Note 24 (iii). </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(iii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The depreciation and amortization amounts incurred in the period are segregated between costs and expenses as presented below: </font></p> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of sales and services</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,088</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(895</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(904</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Selling expenses</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(10</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(11</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Administrative expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(714</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(371</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(393</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,812</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,277</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,324</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortization</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of sales and services</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(54,151</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(32,846</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,377</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Administrative expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(59</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(333</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(54,526</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(32,905</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,710</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">PIS and COFINS credits (*)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,767</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,936</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation and amortization expense, net</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(51,571</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(31,246</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,933</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Wingdings;font-size:8.0pt;">v</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">  </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">PagSeguro Brazil has a tax benefit on PIS and COFINS that allows to reduce the depreciation and amortization expenses, when incurred. This tax benefit is recognized directly as a reduction of depreciation and amortization expense. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">23. Financial instruments by category</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group estimates the fair value of its financial instruments using available market information and appropriate valuation methodologies for each situation. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The interpretation of market data, as regards the choice of methodologies, requires considerable judgment and the establishment of estimates to reach an amount considered appropriate to each situation. Therefore, the estimates presented may not necessarily indicate the amounts that could be obtained in the current market. The use of different hypotheses to calculate market value or fair value may have a material impact on the amounts obtained. The assets and liabilities presented in this note were selected based on their relevance. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group believes that the financial instruments recognized in these consolidated financial statements at their carrying amount are substantially similar to their fair value. However, since they do not have an active market, variations could occur in the event PagSeguro Group were to decide to settle or realize them in advance. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group classifies its financial instruments into the following categories: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Measured at fair value through profit or loss:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial investments</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">210,103</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">131,239</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Loans and receivables:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">66,767</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Note receivables</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,522,349</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,715,514</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Receivables from related parties</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,723</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">300,809</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other receivables</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">27,956</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,495</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,951,898</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,232,026</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Measured at fair value through profit or loss:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derivative financial instruments</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,613</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,613</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortized cost:</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,080,569</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,304,031</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">92,444</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">61,719</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables to related parties</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">76,249</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">205,204</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends payable and interest on own capital</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,243</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other payables</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,872</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,244</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,227,986</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,684,690</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">24. Financial risk management</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group activities expose it to a variety of financial risks: market risk (including currency risk and cash flow or fair value interest rate risk), fraud risk (chargebacks), credit risk and liquidity risk. PagSeguro Group's overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on PagSeguro Group's financial performance. PagSeguro Group uses derivative financial instruments to hedge certain risk exposures. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Among the main market risk factors that may affect PagSeguro Group's business are the following ones: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(i)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign exchange risk </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign exchange risk arises when future commercial transactions or recognized assets or liabilities are denominated in a currency that is not the entity's functional currency. As of December 31, 2016, PagSeguro Group had borrowings denominated in foreign currency which are linked to derivatives (swaps). </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">In accordance with management's policies, derivative transactions are allowed, as long as they are hedged by a swap entered into with prime financial institutions, for the sole purpose of hedging against risks of fluctuation in exchange or interest rates. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The amounts of derivative financial instruments are summarized as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Maturity</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Notional value</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Fair value</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign exchange and interest</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">January 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">129,480</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">132,761</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interbank Deposit Certificate (CDI)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">January 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(129,480</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(138,036</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,275</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign exchange and interest</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">March 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">70,000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">71,537</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interbank Deposit Certificate (CDI)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">March 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(70,000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(72,875</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,338</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total</font></b></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(6,613</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(ii)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash flow and fair value interest rate risk </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">This risk arises from the derivative financial instruments (swap) that replaces the risk of the exchange and interest rate variation associated with borrowings by the CDI. In this case, the swap's liability leg is the CDI, exposing PagSeguro Group to the variation of this interest rate. For better risk management, PagSeguro Group chooses to enter into borrowings and derivatives with short-term maturities, which enable a better management of the rates. As of December 31, 2017, the Group is not exposed to this risk. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(iii)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Fraud Risk (chargeback) </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Sales transactions which are intermediated by the PagSeguro Group are susceptible to potentially fraudulent or improper and PagSeguro Group uses two processes to control the fraud risk as such: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The first one consists of monitoring, on a real time basis, the transactions carried out with credit and debit cards and payment slips, through an anti-fraud system. This process approves or rejects suspicious transactions at the time of the authorization, based on statistical models that are revised on a periodic basis. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The second process detects chargebacks and disputes not identified by the first process. This is a complementary process and increases PagSeguro Group's ability to avoid new frauds. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(iv)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Credit risk </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Credit risk is managed on a group basis and are limited to the possibility of default by: (a) the card issuers, which have the obligation of transferring to the credit and debit card labels the fees charged for the transactions carried out by their card holders, and/or (b) the acquirers, which are used by PagSeguro Group to approve transactions with the issuers. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">In order to mitigate this risk, PagSeguro Group has established a Credit and Liquidity Risk Committee, whose responsibility is to assess the level of risk of each of the card issuers served by PagSeguro Group, classifying them into three groups: </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">       </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(i)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">card issuers with a low level of risk, with credit ratings assigned by FITCH, S&P and Moody's , which do not require additional monitoring; </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">     </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(ii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">card issuers with a medium level of risk, which are also monitored in accordance with the Basel and property, plant and equipment ratios; and </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(iii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">card issuers with a high level of risk, which are assessed by the Committee at monthly meetings.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">No credit limits were exceeded during the reporting period, and management does not expect any losses from non-performance by these counterparties in addition to the amounts already derecognized as chargebacks, presented as fraud risk. </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(v)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Liquidity risk </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group manages liquidity risk by maintaining reserves, bank and credit lines for the obtaining borrowings, when deemed appropriate. PagSeguro Group continuously monitors actual and projected cash flows, and matches the maturity profile of its financial assets and liabilities in order to ensure PagSeguro Group has sufficient funds to honor its obligations to third parties and meet its operational needs. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group invests cash surplus in interest bearings financial investments, choosing instruments with appropriate maturity or sufficient liquidity to provide adequate margin as determined by the forecasts. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017, PagSeguro Group held cash and cash equivalents of R$ 66,767 (R$ 79,969 at December 31, 2016). </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The table below shows PagSeguro Group's non-derivative financial liabilities divided into the relevant maturity group based on the remaining period from the balance sheet date and the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 30 days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 31 to 120<br /> days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 121 to 180<br /> days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 181 to 360<br /> days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Due to 361<br /> days or<br /> more days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></b></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,890,080</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">133,070</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31,081</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,338</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">81,152</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,032</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,740</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,083</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,437</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables to related parties</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other payables</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,872</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></b></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,228,922</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">60,396</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,152</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,561</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">54,125</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,827</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">63</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,704</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables to related parties</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">76,249</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">208,374</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends payable and interest on own capital</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,243</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other payables</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,244</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">25. Capital management</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group monitors capital on the basis of the gearing ratio which corresponds to net debt divided by total capital. Net debt is calculated as total borrowings (including current and non-current borrowings as shown in the consolidated balance sheet) less cash and banks. Total capital is calculated as equity as shown in the consolidated balance sheet plus net debt. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">During 2016, PagSeguro Group's strategy was to maintain a gearing ratio of up to 20%. </font><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">The gearing ratio at December 31, 2016 was as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings</font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">205,204</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(-) Cash and cash equivalents</font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(79,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net debt</font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,235</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total equity</font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">626,862</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total capital</font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">752,097</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gearing ratio</font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16.65%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group had no borrowings as of December 31, 2017. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">26. Fair value measurement</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Fair value is the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. A three-level hierarchy is used to measure fair value, as shown below: </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Level 1 - Quoted prices (unadjusted) in active markets for identical assets and liabilities.  </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).  </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:6.0pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Courier New;font-size:10.0pt;">o</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Level 3 - Inputs for the assets and liabilities that are not based on observable market data (that is, unobservable inputs).</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017 and 2016, PagSeguro Group had financial investments whose fair value adjustments is classified as Level 1. PagSeguro Group did not have any other assets measured at fair value in 2017 and 2016. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016, derivative liabilities measured at fair value are classified as Level 2. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">There were no transfers between Levels 1, 2 and 3 during the year. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">27. Other disclosures on cash flows</font></b></h1> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><b><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><b><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Non-cash investing and financing activities </font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer of assets and liabilities</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">56,351</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">399,048</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Capitalization of related party transactions</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,610</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The issuance of shares described in Note 18 refers to non-cash consideration. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">28. Subsequent events </font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(i)</font></b></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">IPO - Initial Public Offering </font></b></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">On January 26, 2018, PagSeguro Digital concluded its global offering of 121,193,388 Class A common shares, of which 50,925,642 were new shares offered by PagSeguro Digital and 70,267,746 shares were offered by the controlling shareholder UOL. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The initial offer price was US$21,50 per share. The shares are traded on the New York Stock Exchange (NYSE) since January 24, 2018, under the symbol “PAGS”. The proceeds received from the shares offered by PagSeguro Digital, excluding charges and underwriting fees, totaled approximately US$1,1 billion. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Management expects that the proceeds received by PagSeguro Digital will be used for working capital purposes, future acquisitions and investments in technologies and products complementary to the business. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(ii)</font></b></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Long-Term Incentive Plan-LTIP </font></b></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Members of the Company's management participate in a Long-Term Incentive Plan (“LTIP”), which was established by UOL for its group companies on July 29, 2015 and has been adopted by PagSeguro Digital. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Beneficiaries under the LTIP were granted rights in the form of notional cash amounts without cash consideration. These rights vest in five equal annual installments starting one year after the beneficiary's grant date, the earliest of which was on July 29, 2015. Under the terms of the LTIP, upon the Company's IPO the vested portion of each beneficiary's LTIP rights may, at the discretion of our Board of Directors, either be converted into Class A common shares of the Company at the IPO price or paid to the beneficiary in cash. The conversion rate applicable for any issuance of Class A common shares to be issued in respect of vested LTIP rights may be adjusted, pursuant to each beneficiary's individual LTIP agreement, if our market capitalization at the date the Company's IPO is lower or, in some cases, higher than the reference market capitalization set in the LTIP. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">As a result, upon the Company's IPO, the individual LTIP agreements of certain beneficiaries were adjusted to determine conversion at the IPO of our Class A common shares. The Company's Board of Directors converted all such vested portions of the beneficiaries' LTIP rights into Class A common shares of the Company at the IPO price, without cash consideration, upon completion the IPO, instead of paying such vested portions in cash. As a result, members of the Company's management who are beneficiaries under the LTIP as a group received a total of 1,821,043 new Class A common shares upon completion the IPO. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The shares issued under the LTIP are subject to a one-year lock-up period under the terms of the LTIP. Any shares that are issued on a subsequent vesting date during the first year after the IPO will be subject to the remainder of that same lock-up period, expiring one year after the closing of the IPO. After the close of that one-year period, shares to be issued under the LTIP will no longer be subject to a lock-up. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(iii)</font></b></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Acquired an additional BIVA </font></b></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">On January 15,2018, PagSeguro Brazil acquired an additional interest of 15.82% in BIVA, bringing our total interest to 75.13% of BIVA's total share capital. The total amount paid for this acquisition was R$4,600. </font></p> <p align="center" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">*                *                  * </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.1 Preparation and presentation of the consolidated financial statements</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">These consolidated financial statements include the financial statements of PagSeguro Digital and its subsidiaries, which are all under common control and were prepared exclusively for the purpose of presenting, on a comparative basis, operations in a consolidated manner, for the years ended December 31, 2017, 2016 and 2015. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The consolidated financial statements include the carve-out of PagSeguro Brazil operations for the periods prior to August 1, 2015, when its activities were still recorded in UOL's financial statements. These financial statements, which have been derived from UOL's accounting records, do not necessarily reflect PagSeguro Brazil financial position, results of operations, or cash flows that would have been recorded had PagSeguro Brazil been operating as a separate entity. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">From January 1, 2015 through July 31, 2015, when the PagSeguro Brazil financial statements were prepared on a carve out basis, certain assets and liabilities, revenues, costs and expenses directly related to the payment operations were controlled separately. Additionally, other indirect corporate expenses recorded at UOL were allocated to these carve-out financial statements based on assumptions that management believes are reasonable. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">These consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements are presented in thousands of Brazilian reais, unless otherwise indicated, which is the PagSeguro Group's functional currency. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The consolidated financial statements have been prepared under the historical cost convention, which is modified for certain financial assets and liabilities (including derivative instruments) measured at fair value. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying PagSeguro Group's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 3. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group has adopted all pronouncements and interpretations issued by IASB that were in effect at December 31, 2017. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">These consolidated financial statements for the years ended December 31, 2017, 2016 and 2015 were approved by PagSeguro Group's Board of Directors at a meeting held on March 07, 2018. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.2 Consolidation</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Consolidated financial statements </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group consolidates all entities over which it has control, when it is exposed or has rights to variable returns on its interest in the investee, and has the ability to govern the investee's relevant activities. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The subsidiaries included in the consolidation are described in Note 4. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsidiaries </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsidiaries are all entities over which PagSeguro Digital has control. Subsidiaries are fully consolidated from the date on which control is transferred to PagSeguro Digital. They are deconsolidated from the date that control ceases. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Identifiable assets acquired and liabilities and contingent liabilities assumed for the acquisition of subsidiaries in a business combination are measured initially at their fair values at the acquisition date.PagSeguro Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest's proportionate share of the fair value of the acquiree's identifiable net assets. Non-controlling interests are determined on each acquisition. Acquisition-related costs are accounted for in the statement of income as incurred. These accounting practices do not apply to transactions under common control. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transactions, balances and unrealized gains on intercompany transactions are eliminated. Unrealized losses are also eliminated, unless the transaction provides evidence of impairment of the asset transferred. The accounting policies of the subsidiaries are changed, where necessary, to ensure consistency with the policies adopted by PagSeguro Group. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.3 Foreign currency translation</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or the dates of valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of these transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.4 Cash and cash equivalents</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents are held for the purpose of meeting short-term cash needs and not for investment or any other purposes. PagSeguro Group classifies as cash equivalents a financial investment that can be immediately converted into a known amount of cash and is subject to immaterial risk of change in value. PagSeguro Group classifies financial instruments with original maturities of three months or less as cash equivalents. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.5 Financial instruments - initial recognition and subsequent measurement</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">i) Financial assets </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Initial recognition and measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets are classified in the following categories: financial assets at fair value through profit or loss, loans and receivables, held-to-maturity, and available-for-sale financial assets. The classification depends on the purpose for which the financial assets were acquired. PagSeguro Group does not classify its financial assets as held-to-maturity or available-for-sale. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derivatives are also categorized as measured at fair value through profit or loss unless they are designated as hedges. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets carried at fair value through profit or loss are initially recognized at fair value, and transaction costs are expensed in the statement of income. Financial assets include cash and cash equivalents, current financial investments, note receivables, receivables from related parties, and other receivables. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsequent measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The subsequent measurement of financial assets depends on their classification, which may be as follows: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Loans and receivables </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Loans and receivables are carried at amortized cost using the effective interest rate method. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets at fair value through profit or loss </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">This category includes derivative financial instruments which do not meet the hedge accounting criteria defined by IAS 39. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets at fair value through profit or loss are presented at fair value in the balance sheet, with the corresponding gains or losses recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group values its financial assets at fair value through profit or loss, as it intends to trade them within a short period of time. Reclassification to loans and receivables, available-for-sale financial assets or held-to-maturity investments depends on the nature of the asset. This valuation does not affect any financial assets designated at fair value through profit or loss at initial recognition, which cannot be subsequently reclassified. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derecognition </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">A financial asset or, where applicable, a part of a financial asset or part of a group of similar financial assets, is derecognized when: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font></p> </td> <td valign="top" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">The rights to receive cash flows from the asset expire; </font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font></p> </td> <td valign="top" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group transfers its rights to receive cash flows from the asset, or assumes an obligation to pay the received cash flows in full to a third party under a “pass-through” arrangement; and (a) transfers virtually all the risks and benefits of the asset, or (b) neither transfers nor retains virtually all the risks and benefits of the asset, but transfers control of the asset. </font></p> </td> </tr> </table></div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When PagSeguro Group has transferred its rights to receive cash flows from an asset and has not transferred or retained substantially all the risks and benefits of the asset, this asset is recognized to the extent of PagSeguro Group's continuing involvement in the asset. In such case, PagSeguro Group also recognizes an associated liability. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that PagSeguro Group has retained. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of the consideration that PagSeguro Group may be required to repay. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">ii) Impairment of financial assets </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group assesses, at the balance sheet date, if there is objective evidence that a financial asset or a group of financial assets is impaired. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">A financial asset or a group of financial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a “loss event”) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Evidence of impairment may include indication that the debtors are experiencing significant financial difficulty, probability that the debtor will enter bankruptcy or other financial reorganization, default or delinquency in interest or principal payments, and indication of a substantial decline in the estimated future cash flows, such as changes in maturity dates or economic conditions related to default. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">iii) Financial liabilities </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Initial recognition and measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities are classified as financial liabilities at fair value through profit or loss, other financial liabilities, or as derivatives designated used for hedge, when appropriate. PagSeguro Group determines the classification of its financial liabilities at initial recognition. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities are initially recognized at fair value and, in the case of other financial liabilities, plus directly related transaction costs. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities include payables to third parties, payables to third parties of related parties, trade payables, trade payables of related parties, borrowings, and other payables. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsequent measurement </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The subsequent measurement of financial liabilities depends on their classification, which may be as follows: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities at fair value through profit or loss </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities at fair value through profit or loss include held-for-trading financial liabilities and financial liabilities designated at fair value through profit or loss at initial recognition. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities are classified as held-for-trading if acquired for sale in the short term. This category includes derivative financial instruments which do not meet the hedge accounting criteria defined by IAS 39. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gains and losses on held-for-trading liabilities are recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other financial liabilities </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">After initial recognition, interest-bearing borrowings are subsequently measured at amortized cost, using the effective interest rate method, and are recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective interest rate amortization is included in “Financial expenses” in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><i><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derecognition </font></i></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">A financial liability is derecognized when the obligation is discharged, canceled or expires. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and recognition of a new liability, and the difference in the respective carrying amounts is recognized in the statement of income. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">iv) Financial instruments - offsetting </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets and liabilities are presented net in the balance sheet if, and only if, there is an existing and enforceable legal right to offset the amounts recognized and an intention to offset or to realize the asset and settle the liability simultaneously. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">v) Fair value of financial instruments </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The fair value of financial instruments actively traded in organized markets is determined based on quoted market prices at the balance sheet date, without a deduction of transaction costs. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. These techniques include the use of recent arm's length transactions, reference to other similar instruments, discounted cash flow analysis or other valuation methods. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.6 Note receivables</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The amounts are mainly related to receivables from credit/debit card issuers and acquirers originated from transactions through PagSeguro Group platform, and from the sales of credit/debit card readers. If collection is expected in one year or less, they are classified as current assets. If not, they are presented as non-current assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The provision for impairment of note receivables, however based on PagSeguro Brazil's risk assessment the need of provision is immaterial because the note receivables are mainly comprised of transactions approved by large financial institutions that have a low level risk based on ratings received from major credit rating agencies. Additionally, these financial institutions are the legal obligors to the note receivables. See Note 24. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Note receivables are initially recorded at the present value of expected future cash flows. The note receivables from installment transactions is an estimate based on the present value of the future cash flows, using average appropriate terms and rates, which are in accordance with the terms of these transactions. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group incurs financial expenses when an election to receive early payment of note receivables from financial institutions is made. The finance expense is recognized at the time the financial institution agrees to liquidate a note receivable due in installments on a prepaid basis, and it is recorded as Financial expenses in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.7 Inventories</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Inventories consist of debit and credit card readers. Inventories are stated at the lower of cost and net realizable value. The cost method used for inventories is the weighted moving average method. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.8 Property and equipment  </font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Property and equipment are stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items and may also include finance costs related to the acquisition of qualifying assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with these costs will flow to PagSeguro Group and they can be measured reliably. The carrying amount of replaced items or parts is derecognized. All other repairs and maintenance expenses are charged to the statement of income during the year in which they are incurred. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The assets' residual values and useful lives are reviewed at the end of each reporting period, and adjusted on a prospective basis if appropriate. Depreciation is calculated under the straight-line method, based on the estimated useful lives as shown below (in years): </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td width="7%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td width="7%" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="3" valign="bottom" width="15%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Data processing equipment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,5 to 5</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,5 to 5</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Furniture and fittings</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Facilities</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Leasehold improvements</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Machinery and equipment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5 to 10</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Vehicles</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> </tr> </table> </div> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">An asset's carrying amount is immediately written down to its recoverable amount when the asset's carrying amount is greater than its estimated recoverable amount. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts, and are recognized within “Other (expenses) income, net” in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.9 Intangible assets</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Software licenses are capitalized on the basis of the costs incurred to acquire the software and bring it to use. These costs are amortized on the straight-line basis over the estimated useful life of the software (three to five years). </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Costs associated with maintaining computer software programs are recognized as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by PagSeguro Group are recognized as intangible assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Directly attributable costs, which are capitalized as part of the software product, include costs incurred with employees and expenses allocated to software development. Borrowing costs incurred during the software development period may also be capitalized. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other development expenditures that do not meet the capitalization criteria are expensed as incurred. Development costs previously recorded as an expense are not recognized as an asset in a subsequent period, and are presented within “Advisory and consulting services”. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Computer software development costs recognized as assets are amortized over the estimated useful life, which does not exceed five years from the date that technological feasibility is met. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.10 Impairment of non-financial assets</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Non-financial assets are annually reviewed for impairment to determine whether there are any events or changes in economic and technological conditions or in operations that may indicate that an asset is impaired. When applicable, such evidence is identified through the annual impairment test. In order to assess a non-financial asset, it is necessary to estimate its recoverable amount. The recoverable amount of an asset or cash generating unit is the greater of its value in use and its fair value less costs to sell. When the carrying amount of an asset or cash generating unit exceeds its recoverable amount, a provision for impairment is established. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When estimating the value in use of an asset, the future estimated cash flows are discounted to their present value using a pre-tax discount rate that reflects the weighted average cost of capital for the cash generating unit. The net sales price is determined, whenever possible, based on a firm sales contract entered into on an arm's length basis, between well-informed and willing parties, adjusted by expenses attributable to the asset sale, or, when there is no firm sales contract, based on the price in an active market, or the most recent transaction price for similar assets. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group annually assesses whether there is any indication that a previously recognized impairment loss no longer exists or has decreased. If there is such indication, the asset's recoverable amount is estimated. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset's recoverable amount since the last impairment loss was recognized. The reversal is limited so that the asset's carrying amount does not exceed its recoverable amount, nor exceeds the carrying amount that would have been determined, net of depreciation or amortization, had no impairment loss been recognized for the asset in prior years. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.11 Payables to third parties</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties refer to funds payable and amounts due to merchants that use PagSeguro Brazil platform. PagSeguro Group recognizes the fair value of the transaction which is the transaction amount, net of the transaction cost. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.12 Provisions</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Provisions are recognized when PagSeguro Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount can be estimated reliably. When PagSeguro Group expects the value of a provision to be reimbursed, in whole or in part, for example, due to an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain. Expenses associated with any provisions are presented in the statement of income, net of any reimbursements. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group is a party to legal and administrative proceedings. Provisions are established for all contingencies referring to lawsuits for which it is probable that an outflow of funds will be necessary to settle the contingency/obligation and a reasonable estimate can be made. The assessment of the likelihood of loss includes the evaluation of available evidence, the hierarchy of laws, available case law, recent court decisions and their importance in the legal system, as well as the opinion of outside legal counsel. The provisions are reviewed and adjusted to reflect changes in circumstances. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.13 Revenue recognition</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Revenue comprises the fair value of the consideration received or receivable for the sale of services and goods in the ordinary course of PagSeguro Group's activities. Revenue is presented net of sales and excise taxes and returns. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group recognizes revenue when: (i) the amount of revenue can be reliably measured; (ii) it is probable that future economic benefits will flow to PagSeguro Group; (iii) recognized when control of a good or service is transferred to a customer; and (iv) specific criteria have been met for PagSeguro Group's activities. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group's revenue substantially comprises: </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Symbol;font-size:10.0pt;">·</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Revenue from transaction activities and other services: Revenue from fees charged for intermediation of electronic payments, and other services such as prepaid cards, which are recognized at the time the purchase is approved by the financial institution. Revenues from fees charged for intermediation of electronic payments are recognized on a gross basis and related transaction costs are recognized as Cost of sales and services, since PagSeguro Group is considered to be the principal in the intermediation transaction. PagSeguro Group has primary responsibility for providing the services to customers and also directly sets the prices for such services, independently from the related transaction costs agreed between PagSeguro Group and the card schemes or card issuers; and </font></p> <p style="margin-left:.5in;margin-right:0in;text-indent:-.25in;"><font lang="EN-US" style="font-family:Symbol;font-size:10.0pt;">·</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Revenue from sales: Revenue from sales of credit and debit card readers and similar items, which is recognized at the time the risks and benefits are transferred and when control of a good is transferred to the customers, i.e., on delivery of the equipment. Under Brazilian consumer law, clients have seven days after ordering Point of Sale equipment (“POS devices”) in which to cancel the purchase. Returns of devices are accounted for as deductions from revenue from sales at the time the equipment is returned. </font></p> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:12.0pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Symbol;font-size:10.0pt;">·</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">         </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial income: is recognized as a result of the discount rate charged on the early payments of Payables to third parties (merchants). The income is recognized at the time the merchant agrees to receive a sale in installments on an early payment basis, and it is recorded as Financial income in the statement of income.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.14 Distribution of dividends and interest on own capital</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Distributions of dividends and interest on own capital to PagSeguro Brazil's shareholders are recognized as a liability in the financial statements at year-end, based on the PagSeguro Brazil's bylaws, which require the distribution of a minimum of 1% of the profit for the year as dividends. Any amount that exceeds the minimum required is only accrued on the date such distribution is approved by the shareholders at a General Meeting. However, these provisions do not exist under PagSeguro Digital Memorandum of Association. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The tax benefit of interest on own capital is recognized in the statement of income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.15 Current and deferred income tax and social contribution</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Current income tax and social contribution </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Tax assets and liabilities for the current year are calculated based on the expected recoverable amount or the amount payable to the tax authorities. The tax rates and tax laws used to calculate the amount are those enacted or substantively enacted at the balance sheet date in the countries where PagSeguro Group operates and generates taxable income. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Current income tax and social contribution related to items recognized directly in equity are recognized in equity. PagSeguro Group periodically evaluates the tax positions involving interpretation of tax regulations and establishes provisions when appropriate. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:.25in;"><u><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred taxes </font></u></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred taxes arise from temporary differences between the tax bases of assets and liabilities and their carrying amounts at the balance sheet date. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax liabilities are recognized for all taxable temporary differences, except in the following situations: </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">When the deferred tax liability arises from the initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit; </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">On temporary tax differences related to investments in subsidiaries, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future; </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax assets are recognized on all deductible temporary differences and tax loss carryforwards, to the extent that it is probable that taxable profit will be available against which they can be offset, except when the deferred tax asset related to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit or loss; and </font></p> <p style="margin-bottom:.0001pt;margin-left:88.5pt;margin-right:0in;margin-top:12.0pt;text-indent:-25.5pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">•</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">               </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax assets are recognized on the deductible temporary differences associated with investments in subsidiaries only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and that taxable profit will be available against which the temporary differences can be utilized.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The carrying amount of deferred tax assets is reviewed at each balance sheet date and a deferred tax asset is recognized to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred tax assets to be utilized. Unrecognized deferred tax assets are reviewed, at each balance sheet date, and recognized to the extent that it is probable that future taxable profit will be available to allow their utilization. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Based on the local law of Cayman (The Companies Law of 1960), there is no taxation on the income earned in the companies based in this locality, therefore, we do not have tax impacts for the PagSeguro Digital. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">For the subsidiaries of PagSeguro Digital, deferred tax assets and liabilities are measured using the prevailing tax rates in the year in which the assets will be realized and the liabilities will be settled. The currently defined tax rates of 25% for income tax and 9% for social contribution are used to calculate deferred taxes. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax assets and liabilities are presented on a net basis when there is a legally or contractually enforceable right to offset the tax asset against the tax liability, and the deferred taxes are related to the same taxable entity and subject to the same tax authority. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.16 Employee benefits - Benefits of performance</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group recognizes a liability and an expense for benefits of performance based on a methodology that takes into consideration the target of performance attributed to PagSeguro Group's stockholders after certain adjustments. PagSeguro Group recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.17 Business combination</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group accounts for business combinations using the acquisition method. The cost of an acquisition is measured as the sum of the consideration transferred, based on its fair value on the acquisition date. Costs directly attributable to the acquisition are expensed as incurred. The assets acquired, and liabilities assumed are measured at fair value, classified and allocated according to the contractual terms, economic circumstances and relevant conditions on the acquisition date. Goodwill is measured as the excess of the consideration transferred over the fair value of net assets acquired. If the consideration transferred is smaller than the fair value of net assets acquired, the difference is recognized as a gain on bargain purchase in the statement of operations. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.18 New standards not yet effective</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The following new standards have been issued by IASB, but are not effective for 2017: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">IFRS 16 - “Leases” - this new standard requires lessees to recognize the liability of the future payments and the right of use of the leased asset for virtually all lease contracts, including operating leases. Certain short-term and low-value contracts may be out of the scope of this new standard. The criteria for recognition and measurement of leases in the financial statements of the lessors are substantially maintained. IFRS 16 is effective for years beginning on or after January 1, 2019 and replaces IAS 17 - “Leases” and related interpretations. Management has performed a preliminary assessment and did not identify any material impacts to date. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">There are no other IFRS or IFRIC interpretations not yet effective that could have a material impact on PagSeguro Group financial statements. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h2 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:10.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Times,serif;font-size:12.0pt;">2.19 New and revised pronouncements in effect</font></b></h2> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The following new standards have been issued by IASB: </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">IFRS 9 - “Financial Instruments”: addresses the classification, measurement and recognition of financial assets and liabilities. The complete version of IFRS 9 was issued in July 2014 and is effective as from January 1, 2018. It replaces the guidance included in IAS 39 related to the classification and measurement of financial instruments. The main amendments brought by IFRS 9 are: (i) new criteria for the classification of financial assets; (ii) new impairment model for financial assets, which is based on expected losses, replacing the current model of incurred losses; and (iii) relaxation of the new requirements for the adoption of hedge accounting. Management evaluated the new guidelines introduced by IFRS 9 and did not identify any material impact for PagSeguro Group. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">IFRS 15 - “Revenue from Contracts with Customers”: this new standard introduces the principles to be applied by an entity to determine the measurement and recognition of revenue. This standard is based on the principle that revenue is recognized when control of a good or service is transferred to a customer, and, therefore, the principle of control will replace the principle of risks and benefits. This standard will replace IAS 11 - “Construction Contracts”, IAS 18 - “Revenues” and related interpretations, and becomes effective on January 1, 2018. Management evaluated the new guidelines introduced by IFRS 15 and did not identify any material impact for PagSeguro Group. </font></p> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Therefore, changes to standards or new pronouncements applicable to the years presented in the consolidated financial statements were not relevant to PagSeguro Group, for retrospective disclosure and disclosure of amounts. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:18.0pt;"> </font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The assets' residual values and useful lives are reviewed at the end of each reporting period, and adjusted on a prospective basis if appropriate. Depreciation is calculated under the straight-line method, based on the estimated useful lives as shown below (in years): </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td width="7%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td width="7%" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="3" valign="bottom" width="15%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Data processing equipment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,5 to 5</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,5 to 5</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Furniture and fittings</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Facilities</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Leasehold improvements</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Machinery and equipment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5 to 10</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Vehicles</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">4. Consolidation of subsidiaries</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="21" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">At December 31, 2017</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Company</font></b></p> </div> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Assets</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Equity</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Net income (loss)<br /> for the year</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Ownership<br /> - %</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Level</font></b></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Brazil</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,553,504</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,686,516</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">866,988</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.99</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Direct</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net+Phone</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,018,218</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">974,260</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">43,958</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,441</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.99</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Boa Compra</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">629,246</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">609,284</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">19,962</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,715</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.99</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">BCPS</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,236</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">251</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">985</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">429</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99.50</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">R2TECH</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,460</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">894</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,566</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,307</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">51.00</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">BIVA</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,482</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,730</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">752</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,569</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">59.31</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">FIDC</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">182,163</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">404</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">181,759</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,758</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">100</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Indirect</font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">6. Cash and cash equivalents </font></b></h1> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Short-term bank deposits</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">66,767</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">66,767</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,969</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">7. Financial investments </font></b></h1> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Short-term investment</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">210,103</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">131,239</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">210,103</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">131,239</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">8. Note receivables</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:6.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="26" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="14" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Legal obligors</font></b></p> </div> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Visa</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Master</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Hipercard</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Visa</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Master</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Itaú</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">237,335</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">751,542</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">250,817</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,239,694</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">99,433</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">244,741</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">344,174</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bradesco</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">333,108</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">83,160</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">416,268</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">115,009</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">36,032</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">151,041</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Banco do Brasil</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">287,334</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">84,504</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">371,838</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">91,414</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">29,425</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">120,839</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">CEF</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">69,974</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">83,684</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">153,658</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,837</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30,979</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">54,816</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Santander</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">122,614</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">310,946</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">433,560</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">48,695</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,085</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">127,780</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">141,802</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">393,999</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">535,801</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">50,716</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">93,473</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">144,189</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total card issuers (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,192,167</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,707,835</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">250,817</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,150,819</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">429,104</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">513,735</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">942,839</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Vero</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">21,463</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331,807</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cielo</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">232,315</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">355,949</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Redecard</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">45,289</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">56,025</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amex</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,608</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,090</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31,864</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24,804</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total acquirers (ii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">370,539</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">772,675</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">991</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total other</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">991</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="47%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total note receivables</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,192,167</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,707,835</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">250,817</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,522,349</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">429,104</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">513,735</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,715,514</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="47%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The maturity analysis of note receivables is as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="83%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 30 days</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,213,929</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">970,086</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 31 to 120 days</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,045,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">609,689</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 121 to 180 days</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">114,953</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">43,144</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Due within 181 to 360 days</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">147,642</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">92,595</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,522,349</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,715,514</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="83%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">i.</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Balances and transactions with related parties: </font></p> </td> </tr> </table> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="14" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Receivables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Payables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Receivables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Payables</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Immediate parent</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - cash management (a)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,721</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">300,809</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - sales of services (b)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">32,286</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">59,692</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Affiliated companies</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - cash management (a)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,383</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - sales of services (b)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">621</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,360</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Concurso Virtual S.A.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,522</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,900</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfolha Transportadora e Distribuição Ltda.</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">745</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,196</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Livraria da Folha Ltda.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,078</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,285</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Empresa Folha da Manhã S/A</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,320</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">21</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Others</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">529</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">412</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,723</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,101</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">300,809</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">76,249</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Revenue</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Expense</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Revenue</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Expense</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Revenue</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Expense</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Immediate parent</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - shared service costs (a)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">58,375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">12,369</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - shared service costs - carved out (b)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">12,032</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - sales of services (c)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">689</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">46,976</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">81,007</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,458</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL - sales of services - carved out (d)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">36,737</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Affiliated companies</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - shared service costs (e)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,710</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">UOL Diveo - sales of services (f)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,953</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">18,069</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">25</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Concurso Virtual S.A.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">117</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">134</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">389</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfolha Transportadora e Distribuição Ltda.</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,405</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,500</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">806</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Livraria da Folha Ltda.</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">319</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">349</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">347</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Others</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">316</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">130</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">261</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">121</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,480</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">149,863</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">744</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">137,885</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">857</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">84,427</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">10. Business combinations</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Book value of<br /> purchased<br /> entities</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Purchase</font></b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"><br /> </font><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">accounting</font></b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"><br /> </font><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">adjustment</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Fair value of<br /> assets and<br /> liabilities<br /> acquired</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">The assets and liabilities arising from the acquisition</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">51</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">51</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Assets acquired</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,598</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,598</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Liabilities assumed</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,312</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,312</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Property, plant and equipment and intangible assets</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">643</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,141</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Value of net assets</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,980</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,478</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Goodwill</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,184</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bargain purchase gain</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(87</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(87</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Purchase cost</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,077</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,077</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Consideration for the purchase settled in cash</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,276</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents at the subsidiary acquired</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(51</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="73%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Amount paid on acquisitions less cash and cash equivalents acquired</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,225</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="73%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(a)         Property and equipment is composed as follows:</font></p> <table border="0" cellpadding="0" cellspacing="0" width="98%" style="border-collapse:collapse;width:98.48%;"> <tr style="height:14.1pt;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" width="71%" style="border-bottom:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2017</font></b></p> </td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td rowspan="2" width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" rowspan="2" width="19%" style="border-bottom:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" width="22%" style="border-top:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated</font></b></p> </td> <td rowspan="2" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td rowspan="2" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" rowspan="2" width="24%" style="border-bottom:solid black 1.0pt;border-top:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;"> <td colspan="2" width="22%" style="border-bottom:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">depreciation</font></b></p> </td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Data processing equipment</font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">11,024</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="12%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,114)</font></p> </td> <td nowrap="nowrap" width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="14%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,910</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Facilities</font></p> </td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">53</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(23)</font></p> </td> <td nowrap="nowrap" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Machinery and equipment</font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,738</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="12%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(444)</font></p> </td> <td nowrap="nowrap" width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="14%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,294</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Furniture and fittings</font></p> </td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">397</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(66)</font></p> </td> <td nowrap="nowrap" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Leasehold improvements</font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">263</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="12%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29)</font></p> </td> <td nowrap="nowrap" width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="14%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Vehicles</font></p> </td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">132</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42)</font></p> </td> <td nowrap="nowrap" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">90</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;"> <td valign="bottom" width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td valign="top" width="25%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16,607</font></b></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td width="12%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,718)</font></b></p> </td> <td nowrap="nowrap" width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td width="14%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,889</font></b></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr style="height:14.1pt;"> <td valign="bottom" width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;"> <td nowrap="nowrap" width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" width="71%" style="border-bottom:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td rowspan="2" width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" rowspan="2" width="19%" style="border-bottom:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" width="22%" style="border-top:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated</font></b></p> </td> <td rowspan="2" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td rowspan="2" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" rowspan="2" width="24%" style="border-bottom:solid black 1.0pt;border-top:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td rowspan="2" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;"> <td colspan="2" width="22%" style="border-bottom:solid black 1.0pt;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Depreciation</font></b></p> </td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Data processing equipment</font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,574</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="12%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,692)</font></p> </td> <td nowrap="nowrap" width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="14%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,882</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Facilities</font></p> </td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">52</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(19)</font></p> </td> <td nowrap="nowrap" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">33</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Machinery and equipment</font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">548</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="12%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(140)</font></p> </td> <td nowrap="nowrap" width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="14%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">408</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Furniture and fittings</font></p> </td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">190</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(40)</font></p> </td> <td nowrap="nowrap" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">150</font></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td width="25%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:10.0pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Leasehold improvements</font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">100</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="12%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(15)</font></p> </td> <td nowrap="nowrap" width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="1%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="10%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td width="14%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">85</font></p> </td> <td nowrap="nowrap" width="2%" style="background:#CCEEFF;height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="height:14.1pt;"> <td valign="bottom" width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:14.1pt;page-break-inside:avoid;"> <td valign="top" width="25%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="9%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,464</font></b></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="12%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,906)</font></b></p> </td> <td nowrap="nowrap" width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td width="1%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="14%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,558</font></b></p> </td> <td nowrap="nowrap" width="2%" style="height:14.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> </table> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(b)           The changes in cost and accumulated depreciation were as follows:</font></p>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Data<br /> processing<br /> equipment</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Facilities</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Machinery<br /> and<br /> equipment</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Furniture<br /> and<br /> fittings</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Leasehold<br /> improvements</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Vehicles</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,574</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">52</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">548</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">190</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">100</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,464</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated depreciation</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,692</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(19</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(140</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(40</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(15</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,906</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,882</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">33</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">408</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">150</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">85</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,558</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Opening balance</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,882</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">33</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">408</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">150</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">85</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,558</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Purchases</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,316</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,171</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">176</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">94</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">114</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,873</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Acquisition of subsidiary</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">134</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">19</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">69</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">18</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">271</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,422</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(4</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(304</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(26</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(14</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,812</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,910</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,294</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">90</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,889</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">11,024</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">53</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,738</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">397</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">263</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">132</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated depreciation</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,114</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(23</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(444</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(66</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,718</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="53%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,910</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">30</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,294</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">331</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">90</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,889</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="53%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(a)           Intangible assets are composed as follows: </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated<br /> amortization</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Expenditures related to software and technology (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">241,490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(115,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Software licenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,510</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,043</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Customer relationships</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,981</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(91</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,890</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Goodwill (ii)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">276,667</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(117,799</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">158,868</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <p align="center" style="margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Cost</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Accumulated<br /> amortization</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Net</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Expenditures related to software and technology (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">143,989</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(61,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">82,131</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Software licenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,393</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,416</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,977</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="78%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">149,382</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,274</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">86,108</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="78%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="page-break-inside:avoid;"> <td valign="top" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(b)</font></p> </td> <td valign="top" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">The changes in cost and accumulated amortization were as follows: </font></p> </td> </tr> </table> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Expenditures with<br /> software and<br /> technology (i)</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Software<br /> licenses</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Customer<br /> relationships</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Goodwill (ii)</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">143,989</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,393</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">149,382</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated amortization</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(61,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,416</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,274</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">82,131</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,977</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">86,108</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Opening balance</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">82,131</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,977</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">86,108</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additions</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">97,491</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,210</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">971</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,184</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,856</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Acquisition of subsidiary</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,419</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,429</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,488</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,010</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,498</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortization</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortization</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(53,807</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(627</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(91</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(54,526</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,890</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">158,868</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">241,490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,510</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,981</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">276,667</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Accumulated amortization</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(115,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,043</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(91</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(117,799</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="57%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,825</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">7,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,890</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">23,686</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">158,868</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="57%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">13. Payables to third parties </font></b></h1> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,080,569</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,304,031</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,080,569</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,304,031</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">14. Borrowings </font></b></h1> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="44%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Type</font></b></p> </div> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Interest rate</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Average<br /> annual<br /> interest rate %</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Maturity</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,<br /> 2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,<br /> 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings in foreign currency</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bank Borrowings</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Fixed interest rates</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,36365</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">% </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">January 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">133,874</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Bank Borrowings</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Fixed interest rates</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,86450</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">% </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">March 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">71,330</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">205,204</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="44%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">15. Salaries and social charges </font></b></h1> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Profit sharing</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,237</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,696</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Salaries payable</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,758</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,682</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social charges</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,102</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,225</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payroll accruals</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,807</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,877</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,365</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">789</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34,269</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">20,269</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="88%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="#365F91" lang="PT-BR" style="font-family:Cambria,serif;font-size:18.0pt;"> </font></b><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">16. Taxes and contributions</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Taxes</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Services tax (i)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">14,837</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,382</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Value-added tax on sales and services (ii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,830</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,596</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social integration program (iii)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,918</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,690</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Social contribution on revenues (iii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">59,358</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16,544</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution (iv)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">35,474</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,264</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">690</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,681</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24,902</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Judicial deposits (v)</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Services tax</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(11,375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Value-added tax on sales and services</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social integration program</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,188</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,516</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Social contribution on revenues</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(50,389</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(15,475</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(72,617</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(17,991</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">52,064</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,911</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Some companies of PagSeguro Group are party to labor and civil litigation in progress and are discussing such matters at the administrative and judicial levels, which, when applicable, are supported by judicial deposits. The provisions for probable losses arising from these matters are estimated and periodically adjusted by management, supported by the opinion of its external legal advisors. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">    2017    </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">    2016    </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Civil</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,326</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">555</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Labor</font></p> </td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">322</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="86%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Current</font></p> </td> <td valign="bottom" width="4%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,648</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">680</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="86%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="4%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">(a) Deferred income tax and social contribution: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Tax losses</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Tax credit</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Technological<br /> inovation (i)</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Other<br /> temporary<br /> differences-<br /> ASSETS</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Other<br /> temporary<br /> differences-<br /> LIABILITY</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax</font></b></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2015</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,363</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(6,257</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,363</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">469</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Included in the statement of income</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,312</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,121</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">284</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(20,149</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Taken directly to equity</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,606</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,606</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,051</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,606</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(24,378</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,647</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(16,074</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Included in the statement of income</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">436</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(721</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(16,814</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,995</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,616</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,278</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="51%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,487</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,885</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(41,192</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">32,642</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,616</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,794</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="51%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The estimated realization of deferred tax assets in non-current assets and liabilities is as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="67%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="14" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Asset</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Liability</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Asset</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Liability</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2017</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,126</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2018</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,895</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(20,728</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,126</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2019</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,040</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,008</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(8,126</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2020</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,111</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,454</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">940</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2021</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">982</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,434</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,545</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2022</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">20,987</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(185</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="67%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">37,015</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(42,809</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,305</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(24,378</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="67%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td colspan="13" width="100%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">(b) Reconciliation of the income tax and social contribution expense </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"><br /> PagSeguro Group computed income tax and social contribution under the taxable income method. The following is a reconciliation of the difference between the actual income tax and social contribution expense and the expense computed by applying the federal statutory rate for the years ended December 31, 2017, 2016 and 2015:</font></p> </td> </tr> <tr> <td width="60%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December, 31</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Profit for the period before taxes</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">683,504</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">155,359</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">40,315</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Statutory rate</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">34%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="60%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Expected income tax and social contribution</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(232,391</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(52,822</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(13,707</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution effect on:</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Permanent additions (exclusions)</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Participation in the results of partners and managers</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(314</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(234</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gifts</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(149</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td rowspan="2" valign="top" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">R&D and technological innovation benefit - Law 11.196/05(i)</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">24,987</font></p> </td> <td nowrap="nowrap" rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,898</font></p> </td> <td nowrap="nowrap" rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">11,596</font></p> </td> <td nowrap="nowrap" rowspan="2" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interest on own capital</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,860</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Tax Incentives - Law Rounet Art. 18</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,981</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other additions</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,402</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">485</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,333</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="60%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution expense</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(204,711</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27,580</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(4,826</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="60%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution - current</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(214,988</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(7,431</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,587</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="60%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Income tax and social contribution - deferred</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,278</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(20,149</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(2,239</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017, all issued shares were fully paid. At December 31, 2017, the share capital, after retroactively reflecting the reverse share split, is represented by 262,288,607 common shares, with no par value. </font><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Share capital is composed of the following shares: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015 shares outstanding (1)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">220,808,044</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Capitalization of control party related party payable (2)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">13,305,204</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Issuance of shares to UOL for transfer of Net+Phone and Boa Compra (3)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">28,175,359</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2016 shares outstanding</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="89%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2017 shares outstanding</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="89%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Brazil bylaws establish that profit for the year and interest on own capital should be allocated, in full or in part, to the constitution of reserves. Presented below are the dividends distributed by each entity consolidated in these financial statements other than Net+Phone and BIVA which recorded accumulated losses in all periods presented: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">PagSeguro Brazil</font></b></p> </div> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Net income for the year</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">115,727</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">37,010</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net investment</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27,209</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net income</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">115,727</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,801</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer to legal reserve (5%)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(23,939</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,786</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Adjusted income for the year</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">454,842</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">109,941</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">9,311</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Mandatory minimum dividends (1%)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,548</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">93</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additional dividends proposed (ii)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">234,255</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total dividends distributed</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">238,803</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">93</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Interest on own capital (i)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,059</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Number of common shares</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,289</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,289</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">220,808</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends per share (in reais)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.9105</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0004</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="76%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interest on own capital</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0994</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="76%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td nowrap="nowrap" valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Boa Compra</font></b></p> </div> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Net income for the year</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,715</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,625</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer to legal reserve (5%) *</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Adjusted income for the year</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,715</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,858</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,625</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Mandatory minimum dividends (1%)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additional dividends proposed</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">65</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total dividends distributed</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">81</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Number of common shares</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,381,317</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,381,317</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">198,557</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="77%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends per share (in reais)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0,0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0,0000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0,4079</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="77%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Basic and diluted earnings per share are calculated by dividing the profit attributable to shareholders of PagSeguro Group by the weighted average number of common shares issued and outstanding during the year: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Profit attributable to owners of the Company</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">478,781</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">127,186</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">35,084</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Weighted average number of common shares</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">262,288,607</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Basic and diluted earnings per share - in reais</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1.8254</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.4849</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">0.1338</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">21. Total revenue and income </font></b></h1> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Gross revenue from transaction activities and other services</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,391,381</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">543,818</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">305,298</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gross revenue from sales</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">655,153</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">371,517</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">238,947</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gross financial income (i)</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">858,410</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">411,413</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">243,566</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other financial income</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">8,576</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,337</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,744</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Total gross revenue and income</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,913,520</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,332,085</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">798,556</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deductions from gross revenue from transactions activities and other services (ii)</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(167,120</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,793</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(37,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deductions from gross revenue from sales (iii)</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(183,229</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(110,923</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(62,430</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deductions from gross financial income (iv)</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(39,786</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,984</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(24,104</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Total deductions from gross revenue and income</font></p> </td> <td valign="bottom" width="3%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(390,135</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(193,700</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(123,635</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="70%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total revenue and income</font></p> </td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,523,385</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,138,385</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">674,920</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="70%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="3%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:24.0pt;page-break-after:avoid;"><b><font color="windowtext" style="font-family:Cambria,serif;font-size:14.0pt;">22. Expenses by nature </font></b></h1> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Transactions costs</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(661,067</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(283,630</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(145,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of goods sold</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(451,635</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(233,419</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(178,608</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Marketing and advertising</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(275,394</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(204,857</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(153,467</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Personnel expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(105,794</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(63,280</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(48,130</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial expenses (i)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(104,544</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(68,301</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29,696</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Chargebacks (ii)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(47,854</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(31,557</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27,490</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation and amortization (iii)</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(51,571</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(31,246</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,580</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(142,022</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(66,737</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(32,665</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,839,881</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(983,027</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(634,606</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Classified as:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of services</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(829,661</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(357,811</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(191,710</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of sales</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(494,719</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(265,856</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(190,773</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Selling expenses</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(245,759</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(199,937</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(162,642</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Administrative expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(153,177</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(84,461</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(61,129</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial expenses</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(104,544</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(68,301</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(29,696</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other (expenses) income, net</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(12,021</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(6,660</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,345</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="75%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,839,881</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(983,027</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(634,606</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="75%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">    </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">(iii)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">            </font><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;">The depreciation and amortization amounts incurred in the period are segregated between costs and expenses as presented below: </font></p> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of sales and services</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,088</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(895</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(904</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Selling expenses</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(10</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(11</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(27</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Administrative expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(714</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(371</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(393</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,812</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,277</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,324</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortization</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost of sales and services</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(54,151</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(32,846</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,377</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Administrative expenses</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(375</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(59</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(333</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(54,526</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(32,905</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,710</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">PIS and COFINS credits (*)</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,767</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,936</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="79%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation and amortization expense, net</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(51,571</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(31,246</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(18,933</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="79%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">PagSeguro Group classifies its financial instruments into the following categories: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial assets</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Measured at fair value through profit or loss:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial investments</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">210,103</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">131,239</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Loans and receivables:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cash and cash equivalents</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">66,767</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">79,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Note receivables</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,522,349</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,715,514</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Receivables from related parties</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">124,723</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">300,809</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other receivables</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">27,956</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,495</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,951,898</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,232,026</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="6" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31,</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Financial liabilities</font></b></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Measured at fair value through profit or loss:</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Derivative financial instruments</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,613</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,613</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Amortized cost:</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,080,569</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,304,031</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">92,444</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">61,719</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables to related parties</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">76,249</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">205,204</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends payable and interest on own capital</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,243</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other payables</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,872</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,244</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,227,986</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,684,690</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> </tr> <tr> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The amounts of derivative financial instruments are summarized as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="10" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Maturity</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Notional value</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Fair value</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign exchange and interest</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">January 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">129,480</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">132,761</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interbank Deposit Certificate (CDI)</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">January 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(129,480</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(138,036</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(5,275</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Foreign exchange and interest</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">March 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">70,000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">71,537</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Interbank Deposit Certificate (CDI)</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">March 2017</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(70,000</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(72,875</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(1,338</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="71%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total</font></b></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></b></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(6,613</font></b></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></b></p> </td> </tr> <tr> <td valign="bottom" width="71%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The table below shows PagSeguro Group's non-derivative financial liabilities divided into the relevant maturity group based on the remaining period from the balance sheet date and the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="63%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 30 days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 31 to 120<br /> days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 121 to 180<br /> days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">Due within<br /> 181 to 360<br /> days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:8.0pt;">Due to 361<br /> days or<br /> more days</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2017</font></b></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,890,080</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">133,070</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">31,081</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,338</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">81,152</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">6,032</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,740</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,083</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,437</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables to related parties</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">39,101</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other payables</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,872</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">At December 31, 2016</font></b></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Payables to third parties</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,228,922</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">60,396</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">10,152</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,561</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">54,125</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,827</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">63</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,704</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Trade payables to related parties</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">76,249</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">208,374</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Dividends payable and interest on own capital</font></p> </td> <td valign="bottom" width="2%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">22,243</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="63%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Other payables</font></p> </td> <td valign="bottom" width="2%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">15,244</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">During 2016, PagSeguro Group's strategy was to maintain a gearing ratio of up to 20%. </font><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">The gearing ratio at December 31, 2016 was as follows: </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">December 31, 2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Borrowings</font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">205,204</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(-) Cash and cash equivalents</font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">(79,969</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">) </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net debt</font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">125,235</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total equity</font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">626,862</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Total capital</font></p> </td> <td valign="bottom" width="7%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">752,097</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="87%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">Gearing ratio</font></p> </td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">16.65%</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td valign="bottom" width="87%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="7%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <div style="border:none;border-top:double black 2.25pt;padding:0in 0in 0in 0in;"> <p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </div> </td> <td style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:1.0pt;"> </font></p> </td> </tr> </table>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><b><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">Non-cash investing and financing activities </font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:12.0pt;"> </font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="84%" style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td valign="bottom" style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> <td style="padding:0in 0in 0in 0in;"></td> </tr> <tr style="page-break-inside:avoid;"> <td valign="bottom" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">  </font></p> </td> <td colspan="2" valign="bottom" style="border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;">2015</font></b></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:8.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Transfer of assets and liabilities</font></p> </td> <td valign="bottom" width="1%" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">56,351</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">399,048</font></p> </td> <td nowrap="nowrap" valign="bottom" style="background:#CCEEFF;padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> <tr style="page-break-inside:avoid;"> <td valign="top" width="84%" style="padding:0in 0in 0in 0in;"> <p style="margin-bottom:.0001pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-indent:-12.0pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Capitalization of related party transactions</font></p> </td> <td valign="bottom" width="1%" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">26,610</font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;">-  </font></p> </td> <td nowrap="nowrap" valign="bottom" style="padding:0in 0in 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="PT-BR" style="font-family:Times New Roman,serif;font-size:10.0pt;"> </font></p> </td> </tr> </table>
0.9999
2:1 shares
524577214
262288607
2.5 to 5
2.5 to 5
10
10
10
10
10
10
5 to 10
10
5
one year
three to five years
five years
0.01
0.25
0.09
ten years
7553504000
1018218000
629246000
1236000
2460000
2482000
182163000
6686516000
974260000
609284000
251000
894000
1730000
404000
866988000
43958000
19962000
985000
1566000
752000
181759000
478781000
-8441000
5715000
429000
1307000
-1569000
1758000
0.9999
0.9999
0.9999
0.995
0.51
0.5931
1.00
Direct
Indirect
Indirect
Indirect
Indirect
Indirect
Indirect
44317000
12034000
0.51
0.24
0.75
0.25
1.00
1.00
0.5141
0.02
0.05
0.08
66767000
79969000
210103000
131239000
0.960
237335000
751542000
250817000
1239694000
99433000
244741000
344174000
333108000
83160000
416268000
115009000
36032000
151041000
287334000
84504000
371838000
91414000
29425000
120839000
69974000
83684000
153658000
23837000
30979000
54816000
122614000
310946000
433560000
48695000
79085000
127780000
141802000
393999000
535801000
50716000
93473000
144189000
1192167000
1707835000
250817000
3150819000
429104000
513735000
942839000
21463000
331807000
232315000
355949000
45289000
56025000
39608000
4090000
31864000
24804000
370539000
772675000
991000
991000
1192167000
1707835000
250817000
3522349000
429104000
513735000
1715514000
2213929000
970086000
1045825000
609689000
114953000
43144000
147642000
92595000
300809000
124721000
2000
59692000
32286000
1383000
9360000
621000
1900000
1522000
1196000
745000
2285000
1078000
2320000
21000
412000
529000
689000
134000
389000
117000
39000
349000
347000
319000
261000
121000
316000
744000
857000
1480000
31498000
12369000
58375000
12032000
81007000
22458000
46976000
36737000
1710000
24000
18069000
25000
28953000
5500000
806000
15405000
101000
130000
137885000
84427000
149863000
0.9999
22149000
238803000
96008000
142794000
184530000
54273000
36654000
3487000
2658000
2243000
51000
51000
2598000
2598000
-1312000
-1312000
643000
2498000
3141000
1980000
2498000
4478000
26184000
-2498000
23686000
-87000
-87000
28077000
28077000
22276000
-51000
22225000
0.995
406000
568000
348000
2350000
75000
215000
997000
87000
0.51
9200000
460000
2300000
3500000
2940000
9067000
17117000
768000
0.1530
242000
0.1530
1488000
0.1530
0.5141
0.5931
0.0790
18470000
7574000
11024000
-3692000
-5114000
3882000
5910000
52000
53000
-19000
-23000
33000
30000
548000
4738000
-140000
-444000
408000
4294000
190000
397000
-40000
-66000
150000
331000
100000
263000
-15000
-29000
85000
234000
132000
-42000
90000
8464000
16607000
-3906000
-5718000
3882000
33000
408000
150000
85000
3316000
1000
4171000
176000
94000
114000
7873000
134000
19000
31000
69000
18000
271000
-1422000
-4000
-304000
-26000
-14000
-42000
-1812000
143989000
241490000
-61858000
-115665000
82131000
125825000
5393000
9510000
-1416000
-2043000
3977000
7467000
1981000
-91000
1890000
23686000
23686000
149382000
276667000
-63274000
-117799000
82131000
3977000
86108000
97491000
1210000
971000
26184000
125856000
10000
1419000
1429000
1488000
1010000
-2498000
-53807000
-627000
-91000
-54526000
82131000
125825000
3977000
7467000
1890000
23686000
86108000
158868000
143989000
241490000
5393000
9510000
1981000
23686000
149382000
276667000
-61858000
-115665000
-1416000
-2043000
-91000
-63274000
-117799000
three to five years
0.0236365
0.0286450
1.10
January 2017
March 2017
133874000
71330000
40000000
129390000
21766000
70000000
8696000
15237000
1682000
2758000
3225000
5102000
5877000
9807000
789000
1365000
14837000
1382000
3830000
3596000
9918000
2690000
59358000
16544000
35474000
1264000
690000
124681000
24902000
-11375000
-2665000
-8188000
-2516000
-50389000
-15475000
-72617000
-17991000
4326000
555000
322000
125000
25800000
29726000
-2312000
-18121000
284000
-20149000
436000
-721000
-16814000
28995000
-1616000
10278000
3606000
3606000
1051000
3606000
-24378000
3647000
-16074000
3363000
-6257000
3363000
469000
1487000
2885000
-41192000
32642000
-1616000
-5794000
940000
8895000
940000
4040000
940000
2111000
940000
982000
4545000
20987000
8126000
20728000
8126000
18008000
8126000
2454000
1434000
185000
0.34
0.34
0.34
-232391000
-52822000
-13707000
-314000
-234000
-375000
-149000
-24987000
-15898000
-11596000
-8860000
11981000
1402000
485000
-2333000
-204711000
-27580000
-4826000
10278000
-20149000
-2239000
262288607000
262288607000
220808044000
13305204000
28175359000
478781000
115727000
37010000
-27209000
478781000
115727000
9801000
-23939000
-5786000
-490000
454842000
109941000
9311000
4548000
93000
234255000
238803000
93000
26059000
262289000
262289000
220808000
0.9105
0.0000
0.0004
0.0000
0.0994
0.0000
5715000
4858000
1625000
5715000
4858000
1625000
16000
65000
81000
5381317000
5381317000
198557000
0.0000
0.0000
0.4079
524577214000
262288607000
220808044000
329961000
69087000
164980523000
34543522000
399048000
26610000
13305204000
36654000
18327103000
56351000
28175359000
0.05
0.20
312047000
0.01
142795000
96008000
238803000
184530000
54272000
262288607000
262288607000
262288607000
1.8254
0.4849
0.1338
1391381000
543818000
305298000
655153000
371517000
238947000
858410000
411413000
243566000
8576000
5337000
10744000
2913520000
1332085000
798556000
-167120000
-63793000
-37101000
-183229000
-110923000
-62430000
-39786000
-18984000
-24104000
-390135000
-193700000
-123635000
-661067000
-283630000
-145969000
-451635000
-233419000
-178608000
-275394000
-204857000
-153467000
-105794000
-63280000
-48130000
-104544000
-68301000
-29696000
-47854000
-31557000
-27490000
-51571000
-31246000
-18580000
-142022000
-66737000
-32665000
-1839881000
-983027000
-634606000
-829661000
-357811000
-191710000
-494719000
-265856000
-190773000
-104544000
-68301000
-29696000
-1088000
-895000
-904000
-10000
-11000
-27000
-714000
-371000
-393000
-1812000
-1277000
-1324000
-54151000
-32846000
-18377000
-375000
-59000
-333000
-54526000
-32905000
-18710000
4767000
2936000
1101000
-51571000
-31246000
-18933000
3951898000
2232026000
6613000
3080569000
1304031000
3227986000
1684690000
129480000
132761000
-129480000
-138036000
-5275000
70000000
71537000
-70000000
-72875000
-1338000
-6613000
1228922000
60396000
10152000
4561000
2890080000
133070000
31081000
26338000
54125000
4827000
63000
2704000
81152000
6032000
1740000
1083000
2437000
76249000
39101000
208374000
22243000
15244000
15872000
125235000
752097000
0.1665
0.20
56351000
399048000
26610000
121193388
50925642
70267746
21.50
1100000000
1821043
0.1582
0.7513
4600000
Card issuers: receivables derived from transactions where PagSeguro Brazil acts as the financial intermediary in operations with the issuing banks, related to the intermediation agreements between PagSeguro Brazil and Visa or Mastercard. However, PagSeguro Brazil's contractual note receivables are with the financial institutions, which are the legal obligors on the note receivables. Additionally, amounts due within 27 days of the original transaction, including those that fall due with the first installment of installment receivables, are guaranteed by Visa or Mastercard, as applicable, in the event that the legal obligors do not make payment. PagSeguro Brazil started operating directly as a financial intermediary in 2016.
Acquirers: refers to card processing transactions to be received from the acquirers, which are third parties acting as financial intermediaries between the issuing bank and PagSeguro Brazil. This balance also includes the receivables from sales of debit and credit card readers.
The receivables/payables with related parties arising from cash management are settled within one month and are free of interest. Shared service costs are offset with these balances. The receivables are unsecured in nature and no provisions are held against receivables from related parties. In April and September 2017, PagSeguro Brazil decided to settle a portion of its outstanding balance with related parties, as described below. On April 30, 2017, PagSeguro Brazil approved the settlement of R$22,149 related to interest on own capital that was distributed with respect to the year ended December 31, 2016. PagSeguro Brazil agreed with UOL that the full amount of this outstanding interest on own capital would be offset against receivables under the centralized cash management with UOL. In addition, as described in Note 19, on September 29, 2017 PagSeguro Brazil approved and distributed a total of R$238,803 in dividends, consisting of (i) dividends related to the year ended December 31, 2016 in the amount of R$96,008; and (ii) dividends related to the six-month period ended June 30, 2017 in the amount of R$142,794. PagSeguro Brazil agreed with UOL to offset R$184,530 from the total amount of R$238,803 against receivables under the centralized cash management with UOL and that PagSeguro Brazil would pay the remaining balance of R$54,273 in cash to UOL.
Sale of services refers mainly to purchase of (i) advertising services from UOL and (ii) services related to technical support in computing and hosting from UOL Diveo Tecnologia Ltda. ('UOL Diveo'), which started in 2016. In addition, during 2016, an amount of R$ 63,264 (composed by R$ 26,610 and R$ 36,654) previously recorded as accounts payable was used for capital contributions, as described in Note 19.
Shared services costs mainly related to (i) payroll costs, (ii) IT structure / software and (iii) rental costs are incurred by the parent company UOL and are charged to PagSeguro Brazil pursuant to contractual agreements. Such costs are included in administrative expenses.
The main costs that the UOL Group allocated to PagSeguro Brazil (based on the number of employees and/or the time worked, basis that management believes is reasonable), are (i) payroll costs, (ii) IT structure / software and (iii) rental costs. The allocated costs to the carve-out financial statements are included in administrative expenses.
Sale of services related to advertising services are incurred by the parent company UOL and are charged to PagSeguro Brazil pursuant to contractual agreements.
Sales of services related to advertising services were allocated based on intercompany cost, a basis that management believes is reasonable from January 2014 through July 2015.
Shared services costs are incurred by the affiliated company UOL Diveo and are charged to PagSeguro Brazil pursuant to contractual agreements. The main costs are related to IT structure/software.
Sale of services from the affiliated company UOL Diveo related to technical support in computing and hosting services (started in 2016) and are charged to PagSeguro Brazil pursuant to contractual agreements.
PagSeguro Group capitalizes the expenses incurred with the development of platforms, which are amortized over the useful lives, within a range from three to five years.
Goodwill provided on the acquisition of the companies R2TECH and BIVA as described in Note 10.
Refers to taxes on revenue of transaction activities.
Refers to the Value-added Tax on Sales and Services (ICMS) amounts due by Net+Phone, related to tax substitution and tax rate differential, applied on sales of credit and debit card readers.
Refers mainly to Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) charged on financial income.
Refers to the income tax and social contribution payable on current income taxes and contribution.
PagSeguro Group obtained court decisions to deposit the amount related to the payments in escrow for matters discussed in items 'i', 'ii' and 'iii' above.
The main temporary differences representing the balance of the deferred tax liability refers to the benefit granted by the Technological Innovation Law (Lei do Bem), which reduces the tax charges on the capitalized amount of property and equipment.
The shareholder UOL increased PagSeguro Brazil share capital on August 1, 2015 by the amount of R$ 329,961 (164,980,523 shares) and on December 30, 2015, by the amount of R$ 69,087 (34,543,522 shares), in the total amount of R$ 399,048, through the transfer of assets and liabilities related to payment operations which had been previously recorded in UOL, thus centralizing these activities in PagSeguro Brazil from thereon, resulting in total shares outstanding at December 31, 2015 of 220,808,044;
On May 31 2016, UOL capitalized balances of related parties as a capital contribution in the amount of R$ 26,610 (13,305,204 shares);
On May 31 2016, UOL capitalized balances of related parties as a capital contribution in the amount of R$ 36,654 (18,327,103 shares) in Net+Phone. After that, as described in Note 2, in July 2016, UOL transferred its investment in Boa Compra and Net+Phone to PagSeguro Brazil, as a capital contribution in the amount of R$ 56,351 (28,175,359 shares).
The distribution of interest on own capital was approved in the shareholders' meeting held on December 30, 2016.
At the Extraordinary General Shareholders Meeting held on September 29, 2017, PagSeguro Brazil's shareholders approved the distribution of (i) R$142,795 of dividends related to the six-month period ended June 30, 2017 and (ii) R$96,008 in additional dividends related to the year ended December 31, 2016. The total dividends distributed amounted to R$238,803, of which R$184,530 was offset against receivables under the centralized cash management with UOL and the balance of R$54,272 was paid in cash by PagSeguro Brazil to UOL. For further details, see Note 9.
Includes (a) interest from early payment related to the discount of notes payable to third parties paid in advance and (b) interest on note receivables due in installments.
Deductions consist of services taxes.
The deductions are composed of sales taxes and returns.
Deductions consist of taxes on financial income.
Our financial expenses include (a) the charges we incur to obtain early payment of receivables owed to us by card issuers and acquirers in order to finance our early payment of receivables feature for merchants, (b) interest expense on our other borrowings and (c) the cost of swaps relating to our foreign currency borrowings.
Chargebacks refer to losses recognized in the period reflecting the risks of fraud associated with card processing operations, as detailed in Note 24 (iii).
The depreciation and amortization amounts incurred in the period are segregated between costs and expenses as presented below:
PagSeguro Brazil has a tax benefit on PIS and COFINS that allows to reduce the depreciation and amortization expenses, when incurred. This tax benefit is recognized directly as a reduction of depreciation and amortization expense.