Obbligazione Corestate Capital Holdings S.A. 3.5% ( DE000A19YDA9 ) in EUR

Corestate Capital Holdings S.A.

100 EUR ▲

Germania

DE000A19YDA9 ( in EUR )

3.5% per anno ( pagato 2 volte l'anno)

14/04/2023 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Corestate Capital Holding S.A DE000A19YDA9 in EUR 3.5%, scaduta

100 000 EUR

300 000 000 EUR

Corestate Capital Holding S.A. è una società immobiliare europea che offre servizi di investimento e gestione di asset nel settore immobiliare commerciale.

L'obbligazione con codice ISIN DE000A19YDA9, emessa dalla Corestate Capital Holding S.A., una società di gestione di investimenti immobiliari con sede in Germania, è giunta a naturale scadenza il 14 aprile 2023 ed è stata integralmente rimborsata al 100% del suo valore nominale; questo titolo di debito, denominato in Euro e originariamente emesso in Germania per un importo totale di 300.000.000 EUR con un lotto minimo di sottoscrizione di 100.000 EUR, offriva un tasso d'interesse annuale del 3.5% con una frequenza di pagamento semestrale, completando con successo il suo ciclo di vita finanziario.

PROSPECTUS
NOT FOR GENERAL DISTRIBUTION IN THE UNITED STATES

Corestate Capital Holding S.A.
(incorporated in the Grand Duchy of Luxembourg as a public limited liability company (société anonyme))
EUR 300,000,000 3.50% Notes due 2023

Corestate Capital Holding S.A., Luxembourg, Grand Duchy of Luxembourg ("Luxembourg") (the "Issuer" and, together
with its consolidated subsidiaries, the "Group", the "Corestate Group", "Corestate" or "we", "us" or "our") will issue on
or about 29 March 2018 (the "Issue Date") EUR 300,000,000 3.50% Notes due 2023 (the "Notes") at an issue price of
98.857% of their principal amount (the "Issue Price").
Unless previously redeemed, in whole or in part, or purchased and cancelled in accordance with the terms and conditions of
the Notes (the "Terms and Conditions"), the Notes will be redeemed at their principal amount on 15 April 2023 (the
"Maturity Date"). The Notes will bear interest at the rate of 3.50% per annum from (and including) the Issue Date to (but
excluding) the Maturity Date, payable semi-annually in arrear on each 15 April and 15 October, commencing on 15 October
2018 (long first interest period). The Notes are governed by the laws of the Federal Republic of Germany ("Germany") and
will be issued in a denomination of EUR 100,000.
The Notes constitute unsubordinated and unsecured obligations of the Issuer ranking pari passu among themselves and, in the
event of the dissolution, liquidation or insolvency of the Issuer or any proceeding to avoid insolvency of the Issuer, pari
passu with all other present and future unsubordinated and unsecured obligations of the Issuer, save for such obligations
which may be preferred by applicable law.
Application has been made to the Luxembourg Financial Sector Supervisory Authority (Commission de Surveillance du
Secteur Financier) (the "CSSF") in its capacity as competent authority under the Luxembourg law of 10 July 2005 relating to
prospectuses for securities as amended (the "Luxembourg Prospectus Law"), for the approval of this Prospectus
(the "Prospectus") as a Prospectus in connection with the admission to trading of the Notes on the Regulated Market of the
Luxembourg Stock Exchange. This approval cannot be considered as a judgment on, or as any comment on, the merits of the
transaction, nor on the situation of the Issuer and by approving this Prospectus the CSSF gives no undertaking as to the
economical and financial soundness of the transaction or the quality or solvency of the Issuer, in line with Article 7(7) of the
Luxembourg Prospectus Law. No public offering of Notes is being made in connection with this Prospectus.
Application has also been made to the Luxembourg Stock Exchange for the Notes to be listed on the Official List of the
Luxembourg Stock Exchange and to be admitted to trading on the Luxembourg Stock Exchange's Regulated Market which is
a regulated market for the purposes of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014
on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU ("MiFID II").
This Prospectus is available on the Luxembourg Stock Exchange's website (www.bourse.lu) and on the website of the Issuer
(www.corestate-capital.com), together with the information incorporated by reference herein. See "Information Incorporated
by Reference".
An investment in the Notes involves certain risks. For a discussion of these risks, see "Risk Factors".
The Notes will be represented by a permanent global note (the "Global Note"), which will be deposited with Clearstream
Banking AG, Frankfurt am Main ("Clearstream Frankfurt").
The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act") and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons except to
certain persons in offshore transactions in reliance on Regulation S under the Securities Act.

Joint Global Coordinators

Credit Suisse
Morgan Stanley

Co-Lead Managers

Société Générale
UniCredit Bank
ODDO

26 March 2018

TABLE OF CONTENTS
Notice to Investors .................................................................................................................................... i
Notice to certain European Investors...................................................................................................... iii
Notice to Prospective Investors in the European Economic Area .................................................. iii
Prohibition of Sales to EEA Retail Investors.................................................................................. iii
United Kingdom ............................................................................................................................. iii
France ............................................................................................................................................. iv
Forward-Looking Statements .................................................................................................................. v
Presentation of Financial Information .................................................................................................... vi
Presentation of non-IFRS Financial Measures ...................................................................................... vii
Currency Information ............................................................................................................................. ix
Stabilisation ............................................................................................................................................. x
Overview ................................................................................................................................................. 1
Legal name of the Issuer .................................................................................................................. 1
Legal form, registered office, registration governing law and country of incorporation ................. 1
Description of the Group ................................................................................................................. 1
Business ........................................................................................................................................... 2
Recent Developments .................................................................................................................... 10
Outlook .......................................................................................................................................... 11
Overview of our Corporate and Financing structure ............................................................................. 14
The Offering .......................................................................................................................................... 15
Selected Consolidated Financial and other Information ........................................................................ 18
Selected Financial Information from the Consolidated Statement of Profit and Loss................... 19
Selected Financial Information from the Consolidated Statement of Financial Position .............. 20
Selected Financial Information from the Consolidated Statement of Cash Flows ........................ 21
Other Selected Financial Information ............................................................................................ 21
Risk Factors ........................................................................................................................................... 23
Risks Relating to Our Market Environment .................................................................................. 23
Risks Relating to Our Business ..................................................................................................... 26
Risks Relating to Our Alignment Capital Investments in Our Investment Structures and to
Our Assets Held for Warehousing Purposes ............................................................................ 38
Risks Relating to Our Financial Profile ......................................................................................... 44
Legal and Regulatory Risks ........................................................................................................... 46
Tax Risks Related to Our Investment Structures ........................................................................... 51
Tax Risks Related to Us and Our Affiliates .................................................................................. 54
Risks Relating to the Notes............................................................................................................ 57
Use of Proceeds ..................................................................................................................................... 69
Capitalisation ......................................................................................................................................... 70
Selected Consolidated Financial Information ........................................................................................ 71
Selected Financial Information from the Consolidated Statement of Profit and Loss................... 72
Selected Financial Information from the Consolidated Statement of Financial Position .............. 73
Selected Financial Information from the Consolidated Statement of Cash Flows ........................ 74
Other Financial Information .......................................................................................................... 75
Management's Discussion and Analysis of Financial Condition and Results of Operations ................ 76
Overview ....................................................................................................................................... 77
Key Factors Affecting Results of Operations ................................................................................ 79
Summary of Significant Accounting Policies ................................................................................ 86
Use of Accounting Estimates ......................................................................................................... 86

Recent Accounting Pronouncements ............................................................................................. 87
Segment Reporting ........................................................................................................................ 87
Explanation of Key Line Items ...................................................................................................... 88
Results of Operations ..................................................................................................................... 92
Consolidated Statement of Financial Position ............................................................................... 99
Liquidity and Capital Resources .................................................................................................. 103
Investments, Acquisitions and Divestments ................................................................................ 109
Other Financial Information ........................................................................................................ 111
Off-Balance Sheet Arrangements ................................................................................................ 113
Pension and Employee Benefit Obligations ................................................................................ 113
Disclosures about Market Risk .................................................................................................... 113
Market Overview and Competition ..................................................................................................... 115
Germany ...................................................................................................................................... 115
Austria ......................................................................................................................................... 122
Spain ............................................................................................................................................ 125
The Global Aviation Market ........................................................................................................ 131
Competition ................................................................................................................................. 133
Mezzanine Financing ................................................................................................................... 134
Business ............................................................................................................................................... 142
Overview ..................................................................................................................................... 142
Strengths ...................................................................................................................................... 144
Strategy ........................................................................................................................................ 147
Segment Breakdown .................................................................................................................... 150
Real Estate Investment Management Business ........................................................................... 150
Alignment Capital Management Business ................................................................................... 159
Real Estate Operations and Warehousing .................................................................................... 159
HL Group Acquisition ................................................................................................................. 160
HFS Acquisition .......................................................................................................................... 163
ATOS Group Acquisition ............................................................................................................ 166
Income Structure .......................................................................................................................... 166
Licenses and Certificates ............................................................................................................. 168
Properties ..................................................................................................................................... 168
Intellectual Property .................................................................................................................... 169
Employees ................................................................................................................................... 169
Insurance ...................................................................................................................................... 170
Legal Disputes ............................................................................................................................. 170
Recent Developments and Outlook ..................................................................................................... 176
Recent Developments .................................................................................................................. 176
Outlook ........................................................................................................................................ 176
Material Contracts ............................................................................................................................... 179
Regulatory Regime .............................................................................................................................. 192
Civil Law ..................................................................................................................................... 192
Public Law ................................................................................................................................... 200
Information on Existing Shareholders ................................................................................................. 208
Shareholder Structure .................................................................................................................. 208
General Information About the Issuer and Its Principal Shareholders ................................................ 209
History and Formation of the Issuer ............................................................................................ 209

iii

General Information on the Issuer and the Group ............................................................................... 211
Formation, Incorporation, entry in the companies register, registered office, name, Financial
Year ........................................................................................................................................ 211
Duration of the Issuer and Corporate Purpose ............................................................................. 211
Group Structure ........................................................................................................................... 212
Significant Subsidiaries ............................................................................................................... 212
Auditors ....................................................................................................................................... 213
Notifications, Paying Agent, Calculation Agent ......................................................................... 214
Description of the Governing Bodies of Corestate Capital Holding S.A. ........................................... 215
Overview ..................................................................................................................................... 215
Management Board of the Issuer ................................................................................................. 215
Supervisory Board of the Issuer .................................................................................................. 223
Share Participation Plan and Employee Offering ........................................................................ 229
Certain Information Regarding the Members of the Management Board, Supervisory Board
and Member of the Senior Management ................................................................................ 230
Shareholders' Meeting ................................................................................................................. 231
Senior Management of the Group ................................................................................................ 234
Corporate Governance ................................................................................................................. 236
Certain Relationships and Related-Party Transactions........................................................................ 237
Description of Other Indebtedness ...................................................................................................... 253
Terms and Conditions of the Notes ..................................................................................................... 257
Taxation ............................................................................................................................................... 298
Taxation in the Grand Duchy of Luxembourg............................................................................. 298
Taxation in Germany ................................................................................................................... 301
The Proposed Financial Transactions Tax ................................................................................... 303
Subscription and Sale and Transfer and Selling Restrictions .............................................................. 305
Subscription ................................................................................................................................. 305
Transfer and Selling Restrictions ................................................................................................. 305
General Information ............................................................................................................................ 308
Responsibility Statement ............................................................................................................. 308
Documents Available for Inspection ........................................................................................... 308
Interests of Natural and Legal Persons Involved in the Issue ...................................................... 309
Authorization and Issue Date....................................................................................................... 309
Minimum Offered Amount, Delivery of Notes ........................................................................... 309
Costs and Expenses Relating to the Purchase of Notes ............................................................... 309
Listing and Admission to Trading of the Notes ........................................................................... 309
Expenses related to the Listing and Admission to Trading of the Notes ..................................... 310
Clearance and Settlement ............................................................................................................ 310
Rating of the Issuer and the Notes ............................................................................................... 310
Indication of Yield ....................................................................................................................... 310
Material adverse change statement .............................................................................................. 310
Significant change statement ....................................................................................................... 310
Governmental, legal and arbitration proceedings statement ........................................................ 310
Sources of Market Data ............................................................................................................... 311
Certain Definitions .............................................................................................................................. 322
Information Incorporated by Reference .............................................................................................. 335
Names and Adresses ............................................................................................................................ 338

iv

NOTICE TO INVESTORS
This Prospectus should be read and understood in conjunction with any supplement(s) hereto and each
of the documents incorporated herein by reference (see "Information Incorporated by Reference").
Any website referred to in this Prospectus is referred to for information purposes only and does not
form part of this Prospectus.
Neither the delivery of this Prospectus nor the offering, sale or delivery of any Note shall in any
circumstances create any implication that the information contained in this Prospectus is correct at any
time subsequent to the date hereof or that any other information supplied in connection with the
offering of the Notes is correct as of any time subsequent to the date indicated in the document
containing the same, or that there has been no adverse change, or any event reasonably likely to
involve any adverse change, in the condition (financial or otherwise), results of operation, business and
prospects of the Issuer since the date of this Prospectus. Save as required by applicable laws or
regulations or the rules of any relevant stock exchange, or under the Terms and Conditions, the Issuer
will not provide any post-issuance information to investors.
Neither this Prospectus nor any other information supplied in connection with the offering of the Notes
is intended to provide the basis of any credit or other evaluation or should be considered as a
recommendation by the Issuer or Credit Suisse Securities (Europe) Limited ("Credit Suisse") or
Morgan Stanley & Co. International plc ("Morgan Stanley", and, together with Credit Suisse, the
"Joint Global Coordinators") or Société Générale ("Société Générale"") or UniCredit Bank AG
("UniCredit Bank"´) or Oddo BHF SCA ("ODDO" together with Société Générale and UniCredit
Bank, the "Co-Lead Managers" and, the Co-Lead Managers together with the Joint Global
Coordinators, the "Managers") that any recipient of this Prospectus or any other information supplied
in connection with the offering of the Notes should purchase any Notes. Each investor contemplating
purchasing any Notes should make its own independent investigation of the financial condition and
affairs of the Issuer, and its own appraisal of the Issuer's creditworthiness. This Prospectus does not
constitute an offer of Notes or an invitation by or on behalf of the Issuer or the Managers to purchase
any Notes.
None of the Issuer or the Managers, or any of their respective representatives, is making any
representation to any investor of the Notes regarding the legality of an investment in the Notes by such
investor under the laws applicable to such investor. Prospective investors should not construe anything
in this Prospectus as legal, tax, business or financial advice. Each investor should consult with his or
her own advisors as to the legal, tax, business, financial and related aspects of a purchase of the Notes.
No person is or has been authorised by the Issuer to give any information or to make any
representations other than those contained in or not consistent with this Prospectus or any other
information supplied in connection with the offering of Notes and, if given or made, such information
or representations must not be relied upon as having been authorised by the Issuer or the Managers. In
making an investment decision, investors must rely on their own examination of the Issuer, and the
terms of the offering of Notes, including the merits and risks involved.
The Managers have not independently verified this Prospectus. Accordingly, no representation,
warranty or undertaking, express or implied, is made and no responsibility or liability is accepted by
the Managers as to the accuracy and completeness of the information contained or incorporated by
reference into this Prospectus or any other information provided by the Issuer in connection with the
offering of the Notes.

i

MIFID II product governance / Professional investors and ECPs only target market Solely for
the purposes of each manufacturer's product approval process, the target market assessment in respect
of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties
and professional clients only, each as defined in Directive 2014/65/EU (as amended, "MiFID II"); and
(ii) all channels for distribution of the Notes to eligible counterparties and professional clients are
appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor")
should take into consideration the manufacturers' target market assessment; however, a distributor
subject to MiFID II is responsible for undertaking its own target market assessment in respect of the
Notes (by either adopting or refining the manufacturers' target market assessment) and determining
appropriate distribution channels.
This Prospectus does not constitute an offer to sell or the solicitation of an offer to buy any Notes in
any jurisdiction to any person to whom it is unlawful to make the offer or solicitation in such
jurisdiction. The distribution of this Prospectus and the offer or sale of Notes may be restricted by law
in certain jurisdictions. The Issuer and the Managers do not represent that this Prospectus may be
lawfully distributed, or that any Notes may be lawfully offered, in compliance with any applicable
registration or other requirements in any such jurisdiction, or pursuant to an exemption available
thereunder, or assume any responsibility for facilitating any such distribution or offering. In particular
no action has been taken by the Issuer or the Managers which is intended to permit a public offering of
any Notes or distribution of this Prospectus in any jurisdiction where action for that purpose is
required. Accordingly, no Notes may be offered or sold, directly or indirectly, and neither this
Prospectus nor any advertisement or other offering material may be distributed or published in any
jurisdiction, except under circumstances that will result in compliance with any applicable laws and
regulations. Persons into whose possession this Prospectus or any Notes may come must inform
themselves about, and observe, any such restrictions on the distribution of this Prospectus and the
offering and sale of Notes.
The language of this Prospectus is English.

ii

NOTICE TO CERTAIN EUROPEAN INVESTORS
Notice to Prospective Investors in the European Economic Area
This Prospectus has been prepared on the basis that all offers of the Notes will be made pursuant to an
exemption under the Prospectus Directive from the requirement to produce a prospectus in connection
with offers of the Notes and is thus, for the purposes of the offering of the Notes, not a prospectus
within the meaning of the Prospectus Directive. Accordingly, any person making or intending to make
any offer within the EEA of the Notes which are the subject of the offering contemplated in this
Prospectus should only do so in circumstances in which no obligation arises for the Issuer or the
Managers to produce a prospectus for such offers. None of the Issuer or the Managers has authorized,
nor does it or do they authorize, the making of any offer of the Notes through any financial
intermediary other than offers made by the Managers which constitute the final placement of the Notes
contemplated in this Prospectus.
Prohibition of Sales to EEA Retail Investors
The Notes are not intended to be offered, sold or otherwise made available to and should not be
offered, sold or otherwise made available to any retail investor in the European Economic Area
("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail
client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of
Directive 2002/92/EC (as amended, the "Insurance Mediation Directive") or where that customer
would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II.
Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended,
the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to
retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise
making them available to any retail investor in the EEA may be unlawful under the PRIIPS
Regulation.
United Kingdom
Members of the public are not eligible to take part in this offering. This Prospectus is for distribution
only to persons who (a) have professional experience in matters relating to investments falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as
amended, the "Financial Promotion Order"), (b) are persons falling within Article 49(2)(a) to (d)
("high net worth companies", "unincorporated associations", etc.) of the Financial Promotion Order,
(c) are outside the United Kingdom, or (d) are persons to whom an invitation or inducement to engage
in investment activity (within the meaning of section 21 of the Financial Services and Markets Act
2000 ("FSMA") in connection with the issue or sale of the Notes may otherwise lawfully be
communicated or caused to be communicated (all such persons together being referred to as "relevant
persons"). This Prospectus is directed only at relevant persons and must not be acted on or relied on
by persons who are not relevant persons. Any investment or investment activity to which this
Prospectus relates is available only to relevant persons and will be engaged in only with relevant
persons. Recipients of this Prospectus are not permitted to transmit it to any other person. Persons
distributing this Prospectus must satisfy themselves that it is lawful to do so. The Notes are not being
offered to the public in the United Kingdom.

iii

France
This Prospectus has not been prepared in the context of a public offering in France within the meaning
of Article L.41 1-1 of the Code Monetaire et Financier and therefore has not been approved by,
registered or filed with the (French Financial Market Authority (Autorité des Marchés Financiers).
Consequently, the Notes are not being offered, directly or indirectly, to the public in France and this
Prospectus has not been and will not be released, issued or distributed or caused to be released, issued
or distributed to the public in France or used in connection with any offer for subscription or sale of
the Notes to the public in France.
The Notes may only be offered or sold in the Republic of France to qualified investors (investisseurs
qualifies) or to providers of investment services relating to portfolio management for the account of
third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte
de tiers), to the exclusion of any individuals (cercle restraint d'investisseurs) all as defined in and in
accordance with articles L.41 1-2 and D. 411-1 to D. 411-4 of the French Code Monétaire et
Financier.

iv

FORWARD-LOOKING STATEMENTS
This Prospectus contains forward-looking statements. A forward-looking statement is any statement
that does not relate to historical facts or events or to facts or events as of the date of this Prospectus.
This applies, in particular, to statements in this Prospectus containing information on future earnings
capacity, plans and expectations regarding our business growth and profitability, and the general
economic conditions to which we are exposed. Statements made using words such as "predicts,"
"forecasts," "plans," "endeavors" or "expects" may be an indication of forward-looking statements.
The forward-looking statements in this Prospectus are subject to risks and uncertainties, as they relate
to future events, and are based on estimates and assessments made to the best of the Issuer's present
knowledge. These forward-looking statements are based on assumptions, uncertainties and other
factors, the occurrence or non-occurrence of which could cause the Issuer's actual results, including
the financial condition and profitability of the Group, to differ materially from or fail to meet the
expectations expressed or implied in the forward-looking statements. These expressions can be found
in several sections in this Prospectus, particularly in the sections entitled "Risk Factors",
"Management's Discussion and Analysis of Financial Condition and Results of Operations", "Market
Overview and Competition", "Business" and "Recent Developments and Outlook", and wherever
information is contained in this Prospectus regarding our intentions, beliefs, or current expectations
relating to its future financial condition and results of operations, plans, liquidity, business outlook,
growth, strategy and profitability, as well as the economic and regulatory environment to which we are
subject.
In light of these uncertainties and assumptions, it is also possible that the future events mentioned in
this Prospectus might not occur. In addition, the forward-looking estimates and forecasts reproduced in
this Prospectus from third-party reports could prove to be inaccurate (see "Sources of Market Data"
for more information on the third-party sources used in this Prospectus). Actual results, performance
or events may differ materially from those in such statements.
Moreover, it should be noted that we do not assume any obligation, except as required by law, to
update any forward-looking statement or to conform any such statement to actual events or
developments. In addition, the Issuer does not assume any obligation and does not intend, except as
required by law, to update any forward-looking statements or to conform these forward-looking
statements to actual events or developments.
See "Risk Factors" for a further description of some of the factors that could influence the Issuer's
forward-looking statements.

v

PRESENTATION OF FINANCIAL INFORMATION
The consolidated financial information of the Group as of and for the financial years ended
31 December 2015, 2016 and 2017 presented in the text and in tables in this Prospectus has been taken
or derived from the Issuer's audited consolidated financial statements as of and for the financial years
ended 31 December 2015, 31 December 2016 (including comparative figures as of and for the
financial year ended 31 December 2015, to the extent such comparative figures have been adjusted in
the Issuer's audited consolidated financial statements as of and for the financial years ended 31
December 2016) and 31 December 2017 (including comparative figures as of and for the financial year
ended 31 December 2016, to the extent such comparative figures have been adjusted in the Issuer's
audited consolidated financial statements as of and for the financial year ended 31 December 2017)
(together, the "Audited Consolidated Financial Statements") as well as the Issuer's accounting
records or its management reporting, except as otherwise noted. The Audited Consolidated Financial
Statements have been prepared in accordance with International Financial Reporting Standards as
adopted by the European Union ("IFRS").
Where financial information in tables in this Prospectus is labelled "audited," this means that it has
been taken from the audited consolidated financial statements mentioned above. The label "unaudited"
is used in the following tables to indicate financial information that has not been taken from the
Audited Consolidated Financial Statements but rather was derived from the Audited Consolidated
Financial Statements, or taken or derived from the Issuer's accounting records or its management
reporting, or has been calculated based on figures from the sources mentioned before. Financial
information presented in the text and the tables in this Prospectus are shown in thousands of EUR (in
EUR '000) except as otherwise stated. Certain financial information (including percentages) in this
Prospectus have been rounded according to established commercial standards, whereby aggregate
amounts (sum totals, sub-totals, differences or amounts put in relation) are calculated based on the
underlying unrounded amounts. As a result, the aggregate amounts may not correspond in all cases to
the corresponding aggregated amounts of the underlying (rounded) figures appearing elsewhere in this
Prospectus. Furthermore, these rounded figures may not add up exactly to the totals. Financial
information presented in parentheses denotes the negative of such number presented. In respect of
financial information set out in this Prospectus, a dash ("") signifies that the relevant figure is not
available, while a zero ("0") signifies that the relevant figure is available, but has been rounded to or
equals zero.

vi