The historical financial statements, together with related notes, included in Holdings’ annual report on Form 10-K for the year ended October 31, 2015 and in Holdings’ quarterly reports for the quarterly periods ended January 31, 2016 and April 30, 2016 (collectively, the “ Historical Financial Statements ”), present fairly the consolidated financial position, results of operations and changes in financial position of Holdings and its subsidiaries, on the basis stated therein and at the respective dates or for the respective periods to which they apply; such Historical Financial Statements have been prepared in accordance with GAAP consistently applied throughout the periods involved, except as disclosed therein.