H4-KH-25-D Cooling coil Fan and cooling coil Waterairoil co Helical gear reducer H4

Flender/Flender Gear Units/Helical gear reducer H4

ion on Existing Assets 3,8,6 3,8,6 3,7,1 3,3,9 2,3,3 2,3,4 Total Depreciation 3,8,6 4,3,4 5,7,4 6,7,7 7,2,7 8,5,4 Ingenio Victoria do Julio Scenario Tax Schedule (Cordobas) 0-Oct-9 3 1/9 1/9 1/9 1/9 1/9 Profit Before Tax 1,1,4 2,3,4 2,4,0 2,9,1 1,5,4 Tax Loss Carryforward 0 (1,0, (1,0, 0 0 Taxable Profit 1,1,4 2,3,8 2,3,5 2,9,1 1,5,4 4% of Corporate Net Worth 4,0,0 4,0,0 4,0,0 4,0,0 4,0,0 2% of Gross Income 2,0,9 2,6,2 2,6,2 2,6,2 2,6,2 Tax Base 4,0,0 2,3,4 2,4,0 2,9,1 1,5,4 (Maximum of Above) Corporate Tax FLENDER GRAFFENSTADEN 3% 1,2,0 6,7,5 6,4,0 6,2,0 5,8,0 Fixed Assets (Beginning of Year) 1,0,0 1,6,5 1,9,1 1,2,3 1,9,6 Municipal Tax FLENDER GRAFFENSTADEN 1% 1,0,0 1,0,5 1,0,1 1,1,1 1,1,9 Total Taxes 2,2,0 7,7,0 7,5,1 7,4,1 7,0,0 0 Scenario 4 Scenario 4 assumes, in addition to the assumptions in Scenario 3, that an additional 6,6 manzanas of land is put into cultivation in order to reach total amount of cane land, both colono and IVJ, of 2,0 manzanas. Of the 6,6 new manzanas, 5,4 are assumed to be owned and cultivated by IVJ and 1,2 are assumed to be owned and cultivated by colonos. IVJ Land Proiected (Manzanas) 1/9 !9/9 1/9 1 9/9 1/9 1 9/9 8,6 5,1 8,1 1,5 1,5 1,5 Management is assumed to cultivate an additional 3,0 manzanas in 1/9 and an additional 2,4 manzanas in 1/9. The 3,0 additional manzanas in 1/9 is !and owned by IVJ but not developed, while the 2,4 additional manzanas in 1/9 would have to be purchased and developed. As in Scenario 3, 3,8 manzanas are assumed to be sold to IVJ workers in 1/9. * Colono Land Proiected (Manzanas) 1/9 1/9 1/9 1/9 1/9 1/9 2,4 8,2 8,2 9,4 9,4 9,4 An additional 1,2 manzanas are assumed to be cultivated by colonos beginning in 1/9. This land is currently owned by colonos but not developed. Operating Efficiencies The agricultural yield improvements, factory labor reductions, and administrative labor reductions described in Scenario 3 are also assumed in Scenario 4. Field Personnel The number of field personnel is assumed