Amendment #4 Page 600 of 868 . 9f SP! ww As we Group chd not operate as a stend-alone envy n the past, these combined financial statements may not be indicatwe of tie Group's love performance and do not necessanry reflect wtet its comtined rests of operations, financial position and cash floors wood have teen had the Group operated as a separate entity apart from Renova (ming the perces presented. Management of Ire Group authorized the issuance of these combined Inanclal statements on May 6 2015 3. Summary of significant accounting policies The principal siocoithro polices applied in the preparation of these combined financial staterrents are set out below Policies nave been consistently applied to all years presented. unless otherwise stated Accoonfkg Convention—The combined fnancol statements are prepared on a hsloncal cost basis except for certain financial instruments that are recorded at fair value or staled otherwise Use offer/mew-Tr* preparation of tre combned financial statements pursuant to IFRS requires management to make tidgrnents, esemates and animations that affect the application of accountng policies and the reported amounts of assets. lobelia. income and expenses Estimates and assumptions are reviewed on an ongoing basis. and are based on historical experience as well as charges in scenario and other faders considered relevant by management Actual results could differ from those estimates Revisions n relation to accounting estimates are recognized In the perked n which the estimates are reviewed. and in arty futee periods affected The areas where assumptions and °striates are object to honer uncertainties arid exposed to a risk that could result et a matenal adjustment if such assumptions and estimates orange within the next fiscal year include Impamned cf assets—Managernent concluded that there are no eternal or external evidences that would meaty the recognition of a provision for impairment of properly plant and equipment rtar