LOPEZ HOLDING CORPORATIONComparative Statement of Financial Position

December 31, 2014

Increase (Decrease)2014 2013 Amount Percent

ASSETSCurrent AssetsCash and cash equivalent 46,681 53,433 -6,752 14.46%Short Term Investment 5,335 2,675 2,660 49.86%Inventories 15,218 13,405 1,813 11.91%Other current assets 39,292 32,740 6,552 16.68%Total current assets 106,526 102,253 4,273 4.01%Non- Current AssetsProperty, plant & equipment 118,938 96,286 22,652 19.05%GoodwillIntangible Assets 53,971 54,338 -367 -0.68%Deferred Income Tax 2,064 2,126 -62 -3.00%Prepaid Pension Benefit 114 -114Other Long Term Assets 57,225 50,825 6,400 11.18%Total Non-Current Asset 232,198 203,689 28,509 12.28%Total Assets 338,724 305,942 32,782 9.68%

Liabilities & Shareholder's EquityLiabilitiesCurrent LiabilitiesShort Term Debts 21,126 12,338 8,788 41.60%Accouts Payable 31,654 31,654 100.00%Taxes Payable 928 217 711 76.62%Other Current Liabilities 2,021 28,999 -26,978 -1334.88%Total current Liabilities 55,729 41,554 14,175 25.44%Non-Current LiabilitiesLong Term Debt 143,157 137,471 5,686 3.97%Deferred Taxes Liabilities 3,179 2,835 344 10.82%Accrued LiabilitiesPensions and other Benefit LiabilitiesMinority Interest 87,276 75,907 11,369 13.03%Other Long Term Liabilities 7,092 7,393 -301 -4.24%Total Non-Current Liabilities 240,704 223,606 17,098 7.10%Total Liabilities 296,433 265,160 31,273 10.55%

Shareholder's EquityPaid-up Capital 54 31 23 42.59%Retained Earnings 44,174 40,112 4,062 9.20%Accumulated other comprehensive income -1,937 639 -2,576 132.99%Total Shareholder's Equity 42,291 40,782 1,509 3.57%Total Liabilities & shareholder's Equity 338,724 305,942 32,782 9.68%

LOPEZ HOLDING CORPORATIONComparative Income Statements

December 31, 2014

Increase (Decrease)

2014 2013 Amount Percent

Revenue 100,654 93,308 7,346 7.30%

Cost of Revenue 63,507 64,371 -864 -1.36%

Gross Profit 37,147 28,937 8,210 22.10%

Operating Expenses

Research & Development

Sales, General, administrative expenses 13,586 11,593 1,993 14.67%

Other Operating expenses 3,376 5,698 -2,322 -68.78%

Total Operating Expenses 16,962 17,291 -329 -1.94%

Operating Income 20,185 11,646 8,539 42.30%

Other Income 526 -804 1,330 252.85%

Income Before Taxes 20,711 10,842 9,869 47.65%

Provision for Income Taxes 4,378 3,383 995 22.73%

Net Income From continuing operation 16,333 7,459 8,874 54.33%

Net Income From discontinuing operation -573 -5,516 4,943 -862.65%

Other -12,000 1,943 -13,943 116.19%

Net Income 3,760 1,943 1,817 48.32%

Earnings Per Share

Basic 0.82 0.43 0.00%

Diluted 0.82 0.43 0.00%

Weighted Average Share

Basic 4,592 4,586 6 0.13%

Diluted 4,604 4,595 9 0.20%

EBITDA 29,438 18,785 10,653 36.19%