US$75000000 Lupatech Finance Limited - Banco Best

The pro forma statement of operations is presented for illustrative purposes only and is not necessarily
indicative of our actual consolidated results of operations would have been had the Pro Forma Acquisitions been
consummated by us on January 1, 2007 or on any other date, and it is not indicative of our future results of
operations or financial position. The pro forma statement of operations has been prepared based upon available
information and upon certain assumptions that we believe are reasonable. The pro forma statement of operations
has not been prepared in accordance with rules for preparation of pro forma statement of operations established by
any regulatory body such as the U.S. Securities and Exchange Commission, or SEC. For important information as
to how we compiled the pro forma statement of operations, see “Unaudited Pro Forma Combined Statement of
Operations” and the notes to the pro forma statement of operations included elsewhere in this offering circular.
Business segments
We divided our flow segment into the flow segment and the oil & gas segment in September 2007. Before
September 2007, we divided our business in two business segments: flow and metal. Therefore, the data and
financial information for the oil & gas segment is only presented for the three-month periods ended March 31, 2008
and its comparatives for 2007. Consequently, the data and financial information for our flow segment for the years
ended December 31, 2005, 2006 and 2007 is not comparable to the data and financial information for our flow
segment for the three month periods ended March 31, 2007 and 2008. There are no specific regulations for
presentation of segment information by the CVM or otherwise that would require presenting the prior period
segment information on the new basis, and the Company has elected not to do so.
Rounding
Certain amounts and percentages included in this offering circular have been rounded to facilitate their
presentation. The totals presented in certain tables therefore may not be an arithmetic aggregation of the figures that
precede them.
Market Information
We have obtained certain industry, demographic, market and competitive position data, including market
forecasts, used throughout this offering circular from internal surveys, market research, publicly available
information and industry publications. We have made these statements on the basis of information from third-party
sources that we believe are reliable, such as the Brazilian Institute of Geography and Statistics (Instituto Brasileiro
de Geografia e Estatística), or the IBGE, and the Central Bank, among others. Industry and government
publications, including those referenced here, generally state that the information presented therein has been
obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not
guaranteed. Although we have no reason to believe that any of this information or these reports is inaccurate in any
material respect, we have not independently verified them. Similarly, internal surveys, industry forecasts and
market research, while believed to be reliable, have not been independently verified, and neither we nor the initial
purchasers make any representation as to the accuracy of such information. We are not aware of official market
share data. For that reason, market share information included in this offering circular is based on our estimates.
Notices
All notices to holders of the bonds will, so long as the bonds are listed on the Official List of the
Luxembourg Stock Exchange and the rules of such exchange so require, be published in a daily newspaper with
general circulation in Luxembourg (which is expected to be the Luxemburger Wort), or, alternatively, on the website
of the Luxembourg Stock Exchange (www.bourse.lu).
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