of short-term borrowings and current portion of long-term borrowings and debentures and interest paid for the period Net Debt / EBITDA Short-tem and long-term interest-bearing debts minus cash divided by EBITDA Net Debt / Equity Short-tem and long-term interest-bearing debts minus cash divided by total shareholder's equity at ending period Interest-bearing Debt to Equity Short-tem and long-term interest-bearing debts divided by total shareholder's equity at ending period Total Liabilities to Equity Total liabilities at ending period divided by total shareholder's equity at ending period Free cash flow to EV (EBITDA - capex - tax) / (market capitalization + book value of net debt) ROE Return on equity = Net income / average equity between beginning and ending of period +++++++++++++++++++++++++++++++++++++++++++++++++++++++ Disclaimer "Some statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to our corporate plans, strategies and beliefs and other statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "may" , "will" , "expect" , "anticipate", "intend" , "estimate" , "continue" "plan" or other similar words. The statements are based on our management's assumptions and beliefs in light of the information currently available to us. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.