2016 net ahead of consensus Record production inline with guidance Margin Light as Expected, Growth Continues to be Driven by Smaller Accounts 4Q'16 Results. Phew! A mild relief Active Rep Declines Weigh on Growth No surprises in the results Roadshow feedback: Investors bearish on grid companies' power equipment subsidiaries Q4 Trends Generally Track Expectations; 2017 Outlook Brackets Consensus 4Q16 small beat on higher NII but provisions elevated What is the potential impact from the Odebrecht case?