Obligation America Movil 2.125% ( XS1379122523 ) en EUR

America Movil

94.89 % ▼

Mexique

XS1379122523 ( en EUR )

2.125% par an ( paiement annuel )

09/03/2028

Prospectus brochure de l'obligation America Movil XS1379122523 en EUR 2.125%, échéance 09/03/2028

100 000 EUR

650 000 000 EUR

10/03/2025 ( Dans 297 jours )

L'Obligation émise par America Movil ( Mexique ) , en EUR, avec le code ISIN XS1379122523, paye un coupon de 2.125% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 09/03/2028

PROSPECTUS SUPPLEMENT
(To the Listing Prospectus Dated September 23, 2015)

América Móvil, S.A.B. de C.V.
850,000,000 1.500% Senior Notes due 2024
650,000,000 2.125% Senior Notes due 2028

We are offering 850,000,000 aggregate principal amount of our 1.500% senior notes due 2024 (the "2024 notes") and 650,000,000 aggregate
principal amount of our 2.125% senior notes due 2028 (the "2028 notes" and, together with the 2024 notes, the "notes").
We will pay interest on each series of notes on March 10 of each year, beginning on March 10, 2017. The 2024 notes will mature on March 10,
2024. The 2028 notes will mature on March 10, 2028.
The notes will rank equally in right of payment with all of our other unsecured and unsubordinated debt obligations from time to time
outstanding. The notes will not be guaranteed by any of our subsidiaries.
In the event of certain changes in the applicable rate of Mexican withholding taxes on interest, we may redeem the outstanding notes of either
series, in whole but not in part, at a price equal to 100% of their principal amount plus accrued interest thereon to the redemption date. We may
redeem, in whole or in part, the notes of either series at any time by paying the greater of the principal amount of the notes to be redeemed and the
"make-whole" amount, plus accrued interest to the redemption date. See "Description of Notes--Optional Redemption" in this prospectus
supplement.
Application has been made to list the notes on the Official List of the Luxembourg Stock Exchange for trading on the Euro MTF Market.
This Prospectus Supplement and Prospectus dated September 23, 2015 constitute a prospectus for the purpose of the Luxembourg Law dated
July 10, 2005 on Prospectuses for Securities, as amended. This Prospectus Supplement and Prospectus dated September 23, 2015 may only be used
for the purpose for which they have been published.

Investing in the notes involves risks. See "Risk Factors" beginning on page S-7 of this prospectus supplement
and page 4 of the accompanying prospectus.

Price to
Underwriting
Price to
Proceeds to
Public(1)
Discount
Underwriters
América Móvil(1)

1.500% Senior Notes due 2024 .................................
99.530%

0.200%

99.330%
844,305,000
2.125% Senior Notes due 2028 .................................
98.461%

0.250%

98.211%
638,371,500

(1) Plus accrued interest, if any, from March 10, 2016.
THE NOTES HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE NATIONAL SECURITIES REGISTRY
(REGISTRO NACIONAL DE VALORES, OR "RNV") MAINTAINED BY THE MEXICAN NATIONAL BANKING AND SECURITIES
COMMISSION (COMISIÓN NACIONAL BANCARIA Y DE VALORES, OR "CNBV"), AND MAY NOT BE OFFERED PUBLICLY IN
MEXICO. WE WILL NOTIFY THE CNBV OF THE OFFERING OF THE NOTES OUTSIDE OF MEXICO FOR INFORMATION AND
STATISTICAL PURPOSES ONLY, AND THE DELIVERY OF SUCH NOTICE TO, AND THE RECEIPT THEREOF BY, THE CNBV IS
NOT A REQUIREMENT FOR THE VALIDITY OF THE NOTES AND DOES NOT IMPLY ANY CERTIFICATION AS TO THE
INVESTMENT QUALITY OF THE NOTES, OUR SOLVENCY, LIQUIDITY OR CREDIT QUALITY OR THE ACCURACY OR
COMPLETENESS OF THE INFORMATION SET FORTH HEREIN. THE INFORMATION CONTAINED IN THIS PROSPECTUS
SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS IS EXCLUSIVELY OUR RESPONSIBILITY AND HAS NOT BEEN
REVIEWED OR AUTHORIZED BY THE CNBV. THE ACQUISITION OF THE NOTES BY AN INVESTOR WHO IS A RESIDENT OF
MEXICO WILL BE MADE UNDER SUCH INVESTOR'S OWN RESPONSIBILITY.
None of the CNBV, the U.S. Securities and Exchange Commission (the "SEC") or any U.S. state or foreign securities commission has
approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.
Delivery of the notes was made on March 10, 2016 in book-entry form through the facilities of Clearstream Banking, société anonyme
("Clearstream"), and Euroclear Bank S.A./N.V. ("Euroclear"), for the accounts of their direct and indirect participants.

Joint Book-Running Managers

Citigroup
HSBC
Société Générale
Corporate & Investment Banking

Co-Managers

Barclays
BofA Merrill Lynch
Crédit Agricole CIB

Morgan Stanley
The date of this prospectus supplement is March 21, 2016.

TABLE OF CONTENTS
PROSPECTUS SUPPLEMENT

Page

PROSPECTUS SUPPLEMENT SUMMARY ............................................................................................................................................
S-1

PRESENTATION OF FINANCIAL INFORMATION ..................................................................................................................................
S-4

INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE .............................................................................................................
S-5

RISK FACTORS ...............................................................................................................................................................................
S-6

EXCHANGE RATES .........................................................................................................................................................................
S-7

USE OF PROCEEDS .........................................................................................................................................................................
S-8

CAPITALIZATION ............................................................................................................................................................................
S-9

DESCRIPTION OF NOTES ................................................................................................................................................................. S-12

SUPPLEMENTAL EUROPEAN UNION TAX CONSIDERATIONS .............................................................................................................. S-16

SUPPLEMENTAL MEXICAN TAX CONSIDERATIONS ........................................................................................................................... S-18

UNDERWRITING ............................................................................................................................................................................. S-19

VALIDITY OF NOTES ...................................................................................................................................................................... S-25

EXPERTS ........................................................................................................................................................................................ S-25
LISTING AND GENERAL INFORMATION ......................................................................................................................................... S-27
DESCRIPTION OF THE ISSUER ........................................................................................................................................................ S-29

PROSPECTUS

ABOUT THIS PROSPECTUS ..............................................................................................................................................................
1

FORWARD-LOOKING STATEMENTS .................................................................................................................................................
2

AMÉRICA MÓVIL ...........................................................................................................................................................................
3

RISK FACTORS ...............................................................................................................................................................................
4

USE OF PROCEEDS .........................................................................................................................................................................
5

DESCRIPTION OF DEBT SECURITIES ................................................................................................................................................
6

DESCRIPTION OF WARRANTS ..........................................................................................................................................................
17

FORM OF SECURITIES, CLEARING AND SETTLEMENT .......................................................................................................................
18

TAXATION .....................................................................................................................................................................................
23

PLAN OF DISTRIBUTION ..................................................................................................................................................................
27

EXPERTS ........................................................................................................................................................................................
28

VALIDITY OF SECURITIES ...............................................................................................................................................................
29

ENFORCEABILITY OF CIVIL LIABILITIES ..........................................................................................................................................
30

WHERE YOU CAN FIND MORE INFORMATION.................................................................................................................................
31

INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE .............................................................................................................
32

i

ANNEXES

Annex

OPERATING AND FINANCIAL REVIEW FOR THE YEAR ENDED DECEMBER 31, 2015 .......................................................................
A

UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND FOR THE THREE
AND NINE MONTHS ENDED SEPTEMBER 30, 2014 AND 2015 ...................................................................................................
B
AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2014 .....................................
C

We are responsible for the information contained in this prospectus supplement, the accompanying prospectus and the
documents incorporated by reference herein and therein. Neither we nor any of the underwriters has authorized any person to
give you any other information, and neither we nor any of the underwriters takes any responsibility for any other information
that others may give you. This document may only be used where it is legal to sell the notes. You should not assume that the
information contained in this prospectus supplement, the accompanying prospectus and the documents incorporated by
reference is accurate as of any date other than their respective dates. Our business, financial condition, results of operations
and prospects may have changed since those dates. We are not making an offer of the notes in any jurisdiction where the offer
is not permitted.
In connection with the offering of the notes, Citigroup Global Markets Limited, or any person acting for it, may over-
allot the notes or effect transactions with a view to supporting the market price of the notes at a level higher than that which
might otherwise prevail. However, there is no assurance that Citigroup Global Markets Limited, or any person acting for it,
will undertake any stabilization action. Any stabilization action may begin at any time after the adequate public disclosure of
the final terms of the offer of the notes and, if begun, may be ended at any time, but it must end no later than the earlier of 30
days after the closing date and 60 days after the date of the allotment of the notes. Any stabilization action or over-allotment
must be conducted by Citigroup Global Markets Limited, or any person acting for it, in accordance with all applicable laws
and regulations.
ii

PROSPECTUS SUPPLEMENT SUMMARY
This summary highlights key information described in greater detail in this prospectus supplement or the
accompanying prospectus, including the documents incorporated by reference. You should read carefully this entire
prospectus supplement, the accompanying prospectus and the documents incorporated by reference herein before
making an investment decision.
América Móvil
We provide telecommunications services in 25 countries. We are the leading telecommunications service
provider in Latin America, ranking first in wireless, fixed-line, broadband and Pay TV services based on the number
of revenue generating units ("RGUs"). Our largest operations are in Mexico and Brazil, and we also have major
wireless, fixed-line or Pay TV operations in 17 other countries in the Americas and seven countries in Central and
Eastern Europe. As of December 31, 2015, we had 285.5 million wireless subscribers and 80.8 million fixed RGUs.
América Móvil, S.A.B. de C.V. is a sociedad anónima bursátil de capital variable organized under the laws
of Mexico with its principal executive offices at Lago Zurich 245, Plaza Carso / Edificio Telcel, Colonia Ampliación
Granada, Delegación Miguel Hidalgo, 11529, Mexico City, México. Our telephone number is (5255) 2581-4449.
Summary of the Offering
The following summary contains basic information about the notes and is not intended to be complete. It does
not contain all the information that is important to you. For a more complete description of the terms and conditions
of the notes, see "Description of Notes" in this prospectus supplement and "Description of Debt Securities" in the
accompanying prospectus.

Issuer
América Móvil, S.A.B. de C.V.
Notes Offered
850,000,000 aggregate principal amount of 1.500% Senior Notes due
2024.
650,000,000 aggregate principal amount of 2.125% Senior Notes due

2028.
Price to Public
99.530% of principal amount, plus accrued interest, if any, from March
10, 2016 for the 2024 notes.
98.461% of principal amount, plus accrued interest, if any, from March

10, 2016 for the 2028 notes.
Issue Date

The notes will be issued on March 10, 2016.
Maturity Date
The 2024 notes will mature on March 10, 2024.

The 2028 notes will mature on March 10, 2028.
Interest Rate
Interest on the 2024 notes will accrue at the rate of 1.500% per year
from March 10, 2016.
Interest on the 2028 notes will accrue at the rate of 2.125% per year

from March 10, 2016.

S-1

Interest Payment Dates
Interest on each series of the notes will be payable on March 10 of each
year, beginning on March 10, 2017.
Currency of Payment
All payments of principal of and premium, if any, and interest on the
notes will be made in euro.
Calculation of Interest
Interest will be computed at a fixed rate on the basis of a 365-day year
or 366-day year, as applicable, and the actual number of days elapsed.
Ranking

The notes will be our unsecured and unsubordinated obligations and
will rank equally in right of payment with all of our other unsecured and
unsubordinated debt. The notes will be effectively subordinated to all of
our existing and future secured obligations and to all existing and future
liabilities of our subsidiaries. All of our outstanding debt securities that
were issued in the Mexican and international markets through mid-
September 2011 are unconditionally guaranteed by our subsidiary
Radiomóvil Dipsa, S.A. de C.V. ("Telcel"). Accordingly, the holders of
those outstanding debt securities will have priority over the holders of
the notes with respect to claims to the assets of Telcel. The notes do not
restrict our ability or the ability of our subsidiaries to incur additional
indebtedness in the future.
As of December 31, 2015, we had, on an unconsolidated basis (parent
company only), unsecured and unsubordinated indebtedness of (a)
approximately Ps.579.3 billion (U.S.$33.7 billion) excluding guarantees
of our subsidiaries' indebtedness and (b) approximately Ps.585.8 billion

(U.S.$34.0 billion) including guarantees of our subsidiaries'
indebtedness. As of December 31, 2015, our subsidiaries had
indebtedness (excluding guarantees of indebtedness of us and our other
subsidiaries) of approximately Ps.103.9 billion (U.S.$6.0 billion).
Use of Proceeds
We intend to use the net proceeds from the sale of the notes for general
corporate purposes. See "Use of Proceeds" in this prospectus
supplement.
Further Issuances

We may, from time to time without the consent of holders of the notes
of a series, issue additional notes on the same terms and conditions as
the notes of that series (except for issue date, issue price and the date
from which interest will accrue and, if applicable, the date on which
interest will first be paid), which additional notes of that series will
increase the aggregate principal amount of, and will be consolidated and
form a single series with, the notes of that series.
Payment of Additional Interest
If you are not a resident of Mexico for tax purposes, payments of
interest on the notes to you will generally be subject to Mexican
withholding tax at a rate of 4.9%. See "Taxation--Mexican Tax
Considerations" in the accompanying prospectus. We will pay
additional interest in respect of those payments of interest so that the
amount you receive after Mexican withholding tax is paid equals the
amount that you would have received if no such Mexican withholding
tax had been applicable, subject to some exceptions as described under
"Description of Notes--Payment of Additional Interest" in this
prospectus supplement and "Description of Debt Securities--Payment
of Additional Interest" in the accompanying prospectus.

S-2

We may redeem the notes of either series at any time in whole or in part
Optional Redemption
by paying the greater of the principal amount of the notes to be
redeemed and the "make-whole" amount, plus accrued interest to the
redemption date, as described under "Description of Notes--Optional
Redemption" in this prospectus supplement and "Description of Debt
Securities--Optional Redemption" in the accompanying prospectus.
Tax Redemption

If, due to changes in Mexican laws relating to Mexican withholding
taxes, we are obligated to pay additional interest on the notes of either
series in excess of the additional interest attributable to a Mexican
withholding tax rate of 4.9%, we may redeem the outstanding notes of
that series, in whole but not in part, at any time, at a price equal to
100% of their principal amount plus accrued interest thereon to the
redemption date.
Listing
Application has be made to list the notes on the Official List of the
Luxembourg Stock Exchange for trading on the Euro MTF Market.
However, we will not be required to maintain such listing.
ISIN and Common Code

The ISIN for the 2024 notes is XS1379122101. The Common Code for
the 2024 notes is 137912210.
The ISIN for the 2028 notes is XS1379122523. The Common Code for

the 2028 notes is 137912252.
Form and Denominations

The notes will be issued only in registered form without coupons and in
minimum denominations of 100,000 and integral multiples of 1,000
in excess thereof.
Except in limited circumstances, the notes will be issued in the form of
global notes. See "Form of Securities, Clearing and Settlement--Debt
Securities Denominated in a Currency other than U.S. Dollars" in the

accompanying prospectus. Beneficial interests in the global notes will
be shown on, and transfers of beneficial interests in the global notes will
be made only through, records maintained by Clearstream and
Euroclear.
Trustee, Security Registrar, Paying
The Bank of New York Mellon.
Agent and Transfer Agent

London Paying Agent
The Bank of New York Mellon, London Branch.
Luxembourg Paying Agent and Transfer The Bank of New York Mellon (Luxembourg) S.A.
Agent

Luxembourg Listing Agent

The Bank of New York Mellon (Luxembourg) S.A.

Governing Law
The indenture, the supplemental indentures relating to the notes and the
notes will be governed by the laws of the State of New York.
Risk Factors

Before making an investment decision, prospective purchasers of the
notes should consider carefully all of the information included in this
prospectus supplement, the accompanying prospectus and the
documents incorporated by reference herein, including, in particular, the
information under "Risk Factors" in this prospectus supplement and the
accompanying prospectus and under "Item 3--Key Information--Risk
Factors" in our 2014 Form 20-F (as defined herein), incorporated by
reference herein.
S-3

PRESENTATION OF FINANCIAL INFORMATION
This prospectus supplement incorporates by reference our audited consolidated financial statements as of
December 31, 2013 and 2014 and for the years ended December 31, 2012, 2013 and 2014, which are included in our
2014 Form 20-F (as defined herein), and our unaudited interim condensed consolidated financial statements as of
September 30, 2015 and for the three and nine months ended September 30, 2014 and 2015, which are included in
our report on Form 6-K filed with the SEC on March 7, 2016. See "Incorporation of Certain Documents by
Reference" in this prospectus supplement.
Our audited consolidated financial statements have been prepared in accordance with International Financial
Reporting Standards as issued by the International Accounting Standards Board as of December 31, 2014. Our
audited consolidated financial statements are presented in Mexican pesos. The financial statements of our non-
Mexican subsidiaries have been translated to Mexican pesos. Note 2(a)(ii) to our audited consolidated financial
statements describes how we translate the financial statements of our non-Mexican subsidiaries.
Our consolidated financial statements as of and for the year ended December 31, 2015 are not yet complete or
available, and the independent audit of those financial statements has not yet been completed. This prospectus
supplement includes certain preliminary financial information as of and for the year ended December 31, 2015, but
that information is subject to change as we complete our financial closing procedures and prepare our consolidated
financial statements for publication, and as our independent registered public accounting firm completes its audit of
such consolidated financial statements. As of the date of this prospectus supplement, our independent registered
public accounting firm has not expressed an opinion or any other form of assurance on any financial information as
of or for the year ended December 31, 2015, or on our internal control over financial reporting as of December 31,
2015. Our audited consolidated financial statements as of and for the year ended December 31, 2015 may differ
materially from this preliminary information and will also include notes providing extensive additional disclosures.
References herein to "Mexican pesos" or "Ps." are to the lawful currency of Mexico. References herein to
"U.S. dollars" or "U.S.$" are to the lawful currency of the United States. References herein to "euro" or "" are to
the lawful currency of the member states of the European Monetary Union that have adopted or that will adopt the
single currency in accordance with the Treaty Establishing the European Community, as amended by the Treaty on
European Union.
This prospectus supplement contains translations of various Mexican peso amounts into U.S. dollars at
specified rates solely for your convenience. You should not construe these translations as representations by us that
the Mexican peso amounts actually represent the U.S. dollar amounts or could be converted into U.S. dollars at the
rates indicated. Unless otherwise indicated, we have translated U.S. dollar amounts from Mexican pesos at the
exchange rate of Ps.17.2605 to U.S.$1.00, which was the rate reported by Banco de México for December 31, 2015,
as published in the Mexican Official Gazette of the Federation (Diario Oficial de la Federación). For historical
information regarding the U.S. dollar/Mexican peso exchange rate, see "Exchange Rates" in our report on Form 6-K
filed with the SEC on March 7, 2016, incorporated by reference herein.

S-4

INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
This prospectus supplement incorporates important information about us that is not included in or delivered
with this prospectus supplement. The SEC allows us to "incorporate by reference" the information we file with it,
which means that we can disclose important information to you by referring you to those documents. The
information incorporated by reference is considered to be part of this prospectus supplement, and certain later
information that we file with the SEC will automatically update and supersede this information. We incorporate by
reference the following documents:
·
our annual report on Form 20-F for the year ended December 31, 2014, filed with the SEC on May 1,
2015 (SEC File No. 001-16269) (the "2014 Form 20-F");
·
our report on Form 6-K, filed with the SEC on March 7, 2016 (SEC File No. 001-16269), containing our
unaudited interim condensed consolidated financial statements as of September 30, 2015 and for the
three and nine months ended September 30, 2014 and 2015;
·
our report on Form 6-K, filed with the SEC on March 7, 2016 (SEC File No. 001-16269), containing a
discussion of our results of operations for the years ended December 31, 2014 and 2015 and our
financial position as of December 31, 2015 and certain recent developments;
·
any future annual reports on Form 20-F filed with the SEC under the U.S. Securities Exchange Act of
1934, as amended (the "Exchange Act"), after the date of this prospectus supplement and prior to the
termination of the offering of the notes; and
·
any future reports on Form 6-K that we file with, or furnish to, the SEC after the date of this prospectus
supplement and prior to the termination of the offering of the notes offered by this prospectus
supplement that are identified in such reports as being incorporated by reference in our Registration
Statement on Form F-3 (SEC File No. 333-207092).
Any statement contained in any of the foregoing documents shall be deemed to be modified or superseded for
purposes of this prospectus supplement to the extent that a statement contained in this prospectus supplement
modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this prospectus supplement.
You may request a copy of any and all of the information that has been incorporated by reference in this
prospectus supplement and that has not been delivered with this prospectus supplement, at no cost, by writing or
telephoning us at Lago Zurich 245, Plaza Carso / Edificio Telcel, Colonia Ampliación Granada, Delegación Miguel
Hidalgo, 11529, Mexico City, México, Attention: Investor Relations, telephone (5255) 2581-4449. Our 2014 Form
20-F and our Form 6-K, filed with the SEC on March 7, 2016 (SEC File No. 001-16269), will be published on the
website of the Luxembourg Stock Exchange at www.bourse.lu.
We file reports, including annual reports on Form 20-F, and other information with the SEC pursuant to the
rules and regulations of the SEC that apply to foreign private issuers. You may read and copy any materials filed
with the SEC at its Public Reference Room at 100 F Street, N.E. Washington, D.C. 20549. You may obtain
information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Any filings we
make electronically will be available to the public over the Internet at the SEC's web site at www.sec.gov.

S-5

RISK FACTORS
You should refer to the risk factors discussed under "Risk Factors" in the accompanying prospectus and "Item
3--Key Information--Risk Factors" in our 2014 Form 20-F, incorporated by reference in this prospectus
supplement.
Risks Relating to Our Preliminary 2015 Financial Information
Our consolidated financial statements as of and for the year ended December 31, 2015 have not yet been
completed or audited and, accordingly, the preliminary 2015 financial information included in this prospectus
supplement is subject to change. This prospectus supplement includes certain preliminary financial information as of
and for the year ended December 31, 2015, but that information is subject to change as we complete our financial
closing procedures and prepare our consolidated financial statements for publication, and as our independent
registered public accounting firm completes its audit of such consolidated financial statements. As of the date of this
prospectus supplement, our independent registered public accounting firm has expressed no opinion or any other
form of assurance on any financial information as of or for the year ended December 31, 2015, or on our internal
control over financial reporting as of December 31, 2015. Our audited financial statements for such period may
differ materially from this preliminary information and will also include notes providing extensive additional
disclosures.
For a discussion of our results of operations for the years ended December 31, 2015 and 2014 and our
financial condition as of December 31, 2015, see our report on Form 6-K, filed with the SEC on March 7, 2016,
incorporated by reference herein.

S-6

EXCHANGE RATES
The following table sets forth, for the periods indicated, the high, low, average and period-end noon buying
rates in New York City for cable transfers payable in euro published by the Board of Governors of the Federal
Reserve System expressed in U.S. dollars per euro. The rates in this table are provided for your reference only. The
rates have not been restated in constant currency units and therefore represent nominal historical figures.

Period
Period
High
Low
Average(1)
End

2011 .........................................................................................................
1.4536
1.1959
1.3216
1.3269
2012 .........................................................................................................
1.4875
1.2926
1.3995
1.2973
2013 .........................................................................................................
1.3463
1.2062
1.2859
1.3186
2014 .........................................................................................................
1.3927
1.2101
1.3297
1.2101
2015 .........................................................................................................
1.2015
1.0524
1.1096
1.0859
September ......................................................................................
1.1358
1.1104
1.1229
1.1162
October ..........................................................................................
1.1437
1.0963
1.1228
1.1042
November ......................................................................................
1.1026
1.0562
1.0727
1.0562
December .......................................................................................
1.1025
1.0573
1.0889
1.0859
2016

January ...........................................................................................
1.0964
1.0743
1.0856
1.0832
February ........................................................................................
1.1362
1.0888
1.1062
1.0868
March (through March 4) ..............................................................
1.1010
1.0845
1.0913
1.1010

(1) Average of month-end rates.
The noon buying rate published by the Board of Governors of the Federal Reserve System on March 4, 2016
(the latest practicable date prior to the date hereof), was U.S.$1.1010 to 1.00.

S-7