“Our Accelerate! initiatives helped us to achieve our mid-term targets. We are implementing the Business System across the company to improve customer focus and operational excellence, and drive our businesses systematically to global leadership performance. With our mission to deliver meaningful innovation to make the world healthier and more sustainable, we are well positioned to improve our growth rate.”We are also seeing the steady development of a growth and performance culture characterized by strong employee engagement, teamwork, the drive for operational excellence and accountability for results. This is making us more agile, entrepreneurial and innovative.

Offices around the country, and indeed around the world, are currently taking part in a learning revolution. While the importance of on-the-job technical training is not new, the way we receive and exchange information is new to many of us.

I am pleased to announce that we have invested in a dynamic new e-learning resource, that will allow us to leverage technology to provide increased learning opportunities to all employees. This investment reflects our continuing efforts to keep pace with technological and software updates, develop talent internally and improve overall productivity.

While there is no replacement for face-to-face interaction, I challenge you to become an active e-learner. Take advantage of this new resource, improve your personal performance, advance your career and help your company satisfy its strategic objectives in the process.

If we all participate in the e-Learning revolution, the rewards will be great.

We're pleased to bring you this superior training opportunity. Remember, education is our passport to the future.

Thank You.

SIAMAK SHOKROLLAHZADEH

Chief Executive Officer