page 82 Bombardier Inc. Annual Report 2003-04 Quarterly information (1) Historically, Bombardier Aerospace has higher aircraft deliveries during the fourth quarter compared to the first three quarters of its fiscal year, generating higher revenues. (2) Bombardier Aerospace’s fourth quarter results of fiscal 2004 compared to fiscal 2003 mainly reflect increased business aircraft deliveries. Deliveries for the fourth quarter of fiscal 2003 reflect 14 less  deliveries of Bombardier Learjet aircraft arising from the one-time negative impact of the decision to cease recognizing revenues on the sale of narrow-body aircraft upon green aircraft delivery. (3) Bombardier Transportation’s results for the fourth quarter of fiscal year 2004 and 2003 were negatively impacted due to revisions of estimates to complete certain contracts. In addition,  results for the fourth quarter of fiscal year 2004 were negatively impacted by a charge of $139 million recorded in connection with an agreement reached with Amtrak to settle  all outstanding claims in connection with the Acela high-speed trainset and locomotive contracts. (4) During the fourth quarter of the year ended January 31, 2004, the Corporation began expensing employee stock-based compensation with retroactive effect as of February 1, 2003.  Figures for the first three quarters of fiscal year 2004 were not restated since the impact was not material. (UNAUDITED) FOR THE YEARS ENDED JANUARY 31 (MILLIONS OF CANADIAN DOLLARS, EXCEPT PER SHARE AMOUNTS) 2004 2003 TOTAL TOTAL Segmented revenues  Aerospace (1) $ 11,307 $ 11,294 Transportation 9,586 9,422 BC 681 895 Intersegment revenues (253) (422) External revenues $ 21,321 $ 21,189 Income (loss) from continuing operations before special  items and income taxes Aerospace (2) $ 262 $ (33) Transportation (3) 104 310 BC 73 104 439 381 Special items Aerospace (28) 1,311 Transportation 457 – 429 1,311 Income (loss) from continuing operations before income taxes Aerospace 290 (1,344) Transportation (353) 310 BC 73 104 10 (930) Income tax expense (recovery) 205 (221) Income (loss) from continuing operations (195) (709) Income (loss) from discontinued operations – net of tax 106 94 Net income (loss) (4) $ (89) $ (615) Earnings (loss) per share Basic and diluted: From continuing operations $ (0.13) $ (0.54) From discontinued operations 0.06 0.07 (0.07) (0.47) Dividend – Class A Shares 0.090000 0.180000 Dividend – Class B Shares 0.091563 0.181563 Market price range of Class B Shares High 6.28 15.67 Low 2.56 3.13