<SEC-DOCUMENT>0001292814-16-004286.txt : 20160421
<SEC-HEADER>0001292814-16-004286.hdr.sgml : 20160421
<ACCEPTANCE-DATETIME>20160420175044
ACCESSION NUMBER:		0001292814-16-004286
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160630
FILED AS OF DATE:		20160421
DATE AS OF CHANGE:		20160420

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP
		CENTRAL INDEX KEY:			0001170858
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31317
		FILM NUMBER:		161582150

	BUSINESS ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
		BUSINESS PHONE:		011-55-11-3388-8000

	MAIL ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sbs20160419_6k.htm
<DESCRIPTION>AUDIT COMMITTEE CHARTER
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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, DC 20549 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORM 6-K</B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>REPORT OF FOREIGN ISSUER</B><BR><B>PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES EXCHANGE ACT OF 1934</B></FONT></DIV>

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<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;April 19, 2016</B></FONT></DIV><FONT color=#000000 size=2 face="Times New Roman"><B>(Commission File No. 1-31317) </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Exact name of registrant as specified in its charter) </I></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Basic Sanitation Company of the State of Sao Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Translation of Registrant's name into English) </I></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>Rua Costa Carvalho, 300 <BR>S&#227;o Paulo, S.P., 05429-900 <BR>Federative Republic of Brazil </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Address of Registrant's principal executive offices) </I></FONT></DIV><BR>

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark whether the registrant files or will file <BR>annual reports under cover Form 20-F or Form 40-F. <BR><BR>Form 20-F ___X___ Form 40-F ______</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(1)__.</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(7)__.</FONT></DIV>

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<P align=center><FONT size=2 face="'Times New Roman, Times, Serif'">Indicate by check mark whether the registrant by furnishing the <BR>information contained in this Form is also thereby furnishing the <BR>information to the Commission pursuant to Rule 12g3-2(b) under <BR>the Securities Exchange Act of 1934. <BR><BR>Yes ______ No ___X___</FONT></P>

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">If "Yes" is marked, indicated below the file number assigned to the<BR>registrant in connection with Rule 12g3-2(b):</FONT> </DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.05pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Chapter I &#8211; PURPOSE</FONT></U></B></P>

<P style="MARGIN: 0cm 0cm 11pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif>Article 1</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif> - This Charter (&#8220;Charter&#8221;) provides for the duties and responsibilities, organization and operation of the Audit Committee (&#8220;Committee&#8221;) of Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo &#8211; SABESP (&#8220;Company&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 2</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee&#8217;s duties and responsibilities shall be performed in accordance with those established by the applicable legislation and the Company&#8217;s bylaws.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 3</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee&#8217;s main purpose is to oversee the financial reporting process by ensuring the quality, transparency and integrity of the information disclosed. Accordingly, the Committee shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>a.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Ensure that risk assessment, mapping and rating criteria, as well as risk management controls, are in place;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>b.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Monitor the efficiency of the Company&#8217;s internal controls system;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>c.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Evaluate the guidelines for hiring independent auditors, as well as the other terms and conditions for the services provided, and recommend hiring to the Board of Directors (&#8220;Board&#8221;);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>d.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Monitor compliance with legal and regulatory financial reporting requirements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>e.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Monitor compliance with the Company&#8217;s Code of Ethics and Conduct regarding accounting, internal audit, internal controls and risk management matters; and&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>f.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Review, approve, and oversee the implementation of, Internal Audit&#8217;s work plan to ensure compliance with legislation, policies and control standards.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt; LINE-HEIGHT: 15pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Chapter II &#8211; BASIC PRINCIPLES</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 4</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee shall report to the Board but exercise its duties in independent and autonomous manner, thus acting as an auxiliary consultative, advisory body, with no decision-making power or executive functions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 5</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee shall report its activities at the Board meetings in keeping with its goals. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 6</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee shall make decisions by majority vote, without prejudice to any of its member&#8217;s ability to individually request information and examine the Company&#8217;s books, documents and papers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 7</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; A Committee member's position may not be transferred and shall be exercised by observing the duties of loyalty and diligence, as well as avoiding any conflicts which may affect the Company&#8217;s interests.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 8</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - In the exercise of its duties, the Committee shall maintain work relations with the Company&#8217;s Officers, Head of Departments, Managers, Independent and Internal Auditors, and its members shall receive all the information that may be needed, in its entirety and in a reliable manner.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 9</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Each Committee Member shall have the skills, knowledge and understanding of the Committees&#8217; responsibilities, as well as of the Company&#8217;s businesses, operations and risks, needed to perform his or her duties effectively.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt; LINE-HEIGHT: 11.5pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Chapter III &#8211; AUTHORITY</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 10</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Within the scope of its responsibilities, the Committee may:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>a.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Perform the activities set forth herein;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>b.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Ensure that the Company&#8217;s executives attend the Committee meetings;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>c.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Have access to relevant information, as well as to employees and service providers whenever necessary, to clarify any situations within the Committee&#8217;s competence;</FONT></P>

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   <P style="MARGIN: 12pt 3.6pt 12pt 0cm"><B><FONT><FONT face=verdana,sans-serif><B><FONT style="FONT-SIZE: 7pt" face=verdana,sans-serif>SHEET </FONT></B><FONT style="DISPLAY: none"><B><FONT style="FONT-SIZE: 7pt" face=verdana,sans-serif></FONT></B></FONT></FONT></FONT></B><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 7pt" face=verdana,sans-serif>1</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 7pt" face=verdana,sans-serif></FONT></FONT></FONT><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 7pt" face=verdana,sans-serif> of </FONT></FONT><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 7pt" face=verdana,sans-serif>8</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>d.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Work directly with Independent and Internal Auditors, and keep up-to-date with their respective projects;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>e.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Review the reports prepared by Internal and Independent Auditors about matters that shall be submitted to the Board before they are presented to said body;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>f.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Monitor the Accounting and Internal Audit departments&#8217; activities, and propose to the Board of Executives Officers any measures it may deem applicable;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>g.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Request that expert services be hired to support the Committee&#8217;s activities, at the Company&#8217;s cost, within the Committee&#8217;s annual budget; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 35.45pt; TEXT-INDENT: -18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>h.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Ensure that all incidents reported and complaints made by third-parties in connection with accounting, internal audit and internal control activities are submitted to the Company&#8217;s competent department and follow up on the ensuing investigations and resolutions.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Chapter IV &#8211; ORGANIZATION</FONT></U></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>COMMITTEE&#8217;S COMPOSITION</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 11</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee shall be comprised of three (3) members of the Board who meet the requirements of the U.S. Securities and Exchange Commission (SEC) and the New York Stock Exchange (NYSE) for foreign issuers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 12</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - All Committee&#8217;s members shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 35.45pt; LINE-HEIGHT: 116%; TEXT-INDENT: -14.15pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>a.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Comply with the independence requirements provided for in the applicable legislation, without prejudice to some exceptions that may be admitted;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 35.45pt; LINE-HEIGHT: 116%; TEXT-INDENT: -14.15pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>b.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Be financially literate and have sufficient technical knowledge of accounting; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 35.45pt; LINE-HEIGHT: 116%; TEXT-INDENT: -14.15pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>c.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Have the minimum time availability of thirty (30) hours monthly.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 13</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Board shall verify compliance with the independence requirements when appointing Committee members and periodically thereafter. Any exceptions permitted by law, individually or jointly, shall be disclosed in the applicable reports.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 14</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - At least one of the Committee members, the Financial Expert of the Audit Committee (&#8220;Financial Expert&#8221;), shall also be proficient in the internationally accepted accounting standards and experienced in examining, preparing and evaluating financial statements; have knowledge of internal controls, risk management and policies for disclosing information to the market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.4pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Paragraph 1</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - &nbsp;The Financial Expert shall be appointed by the Board.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.4pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Paragraph 2</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Should the Board choose not to appoint a financial expert, this decision shall be disclosed and explained in the applicable reports.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt; LINE-HEIGHT: 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>MANAGEMENT TERM AND VACANCY</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 15</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Committee Members shall perform their duties as long as they sit on the Board of Directors, or until otherwise determined by the General Shareholders&#8217; Meeting or the Board itself, and may be reelected.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.4pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Sole paragraph</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; The members of the Audit Committee may be replaced during their terms of office only in cases of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 35.4pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - death or resignation;</FONT></P>

<P style="MARGIN: 0cm 0cm 12pt 35.4pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Non-attendance without cause at 3 consecutive meetings or 6 alternate meetings within a year;</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>CHAIR</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 16</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Financial Expert, appointed by the Board, shall chair the Committee.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 17</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee Chair shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>a.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Propose meeting agendas, in line with the annual work plan, to allow the Committee to achieve its goals;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>b.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Call and chair Committee meetings;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>c.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Facilitate the submission of Committee Members&#8217; requests to the Company&#8217;s Management and Independent Auditors;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>d.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Comply and enforce compliance herewith;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>e.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Request the Board of Executive Officers to hire expert services when approved by the Committee; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>f.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Submit the Committee&#8217;s opinions and reports to the Board.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Sole paragraph</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; When he or she is absent or temporarily unable to perform his or her duties, the Chair shall appoint a Member to chair the Committee meetings.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>EXECUTIVE SECRETARY</FONT></U></B></P>

<P style="MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 18</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee shall be assisted by one or more Executive Secretary(ies) acquainted with its duties and responsibilities and the applicable legislation. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Sole paragraph</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Executive Secretary(ies) shall be appointed by the Committee with the support of the Board of Executive Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 19</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Executive Secretary(ies) shall, either directly or by delegation:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>a.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Prepare and send out the notices for the Committee meetings;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>b.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Request from the Company&#8217;s Management any information and/or clarification deemed necessary to perform the Committee&#8217;s duties;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>c.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Call, on behalf of the Chair, the Company&#8217;s Independent Auditors, Executive Officers, head of Departments, employees and consultants and other possible attendees to the meetings;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>d.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Invite, on behalf of the Chair, the members of the Fiscal Council to take part in meetings;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>e.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Prepare and distribute all the documents related to meeting agendas;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>f.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Draft the minutes of the Committee&#8217;s meetings, have them signed and send out copies thereof to the Company&#8217;s Board, Fiscal Council and CEO;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>g.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Maintain the annual schedule of Committee meetings up-to-date;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>h.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Take the administrative measures needed for the Committee meetings to be held and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 42.55pt; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>i.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 116%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Prepare documents and presentations upon the Committee Chair&#8217;s request.</FONT></FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm" align=center><FONT color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif>Approved at the 823<SUP>th</SUP> Meeting of the Board of Directors &#8211; 14.04.2016</FONT></FONT><FONT color=black face=verdana,sans-serif></FONT></P></TD>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></DIV>

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<P style="MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 20</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - All documents relating to the Committee shall be filed at the Company&#8217;s Governance Executive Department - PPS, which shall be responsible for their safekeeping.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 21</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> -&nbsp; After preparing the agenda, the Executive Secretary(ies) shall request all the information and documents which the Committee will be examining and discussing and on which its resolutions will be based from the respective Company departments and/or other possible attendees of the meetings. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Sole paragraph</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; The aforementioned documents and information, to the fullest extent possible, shall be submitted to the Committee at least three (3) days prior to the respective meetings, except in urgent cases.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Chapter V &#8211; MEETINGS</FONT></U></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>CALL TO ORDER</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 22</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee Meetings shall be called to order when most Committee Members are in attendance.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt; LINE-HEIGHT: 14pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>VENUE</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 23</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Committee meetings shall be held preferably at the Company&#8217;s headquarters.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Sole paragraph</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - On an exceptional basis, Committee Members may meet via teleconference, videoconference, e-mail or any other reliable means that enables them to express their will as long as it allows them to identify one another and communicate simultaneously with all other participants, without prejudice to the need to sign the minutes afterwards. Committee meetings in which most Members participate through electronic means shall be deemed to have taken place at the Company&#8217;s headquarters.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>PERIODICITY</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 24</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee shall meet regularly twice a month and extraordinarily whenever necessary.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>CALL NOTICE</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 25</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Regular meetings shall be held according to the annual schedule prepared by the Committee. Special meetings shall be called at the Committee Chair&#8217;s request by any means of communication that allows the Committee Members to be duly notified.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 26</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Committee meetings shall be deemed to be regular when attended by all Members, regardless of call formalities.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 27</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - All Committee Members shall be encouraged to attend all meetings. Attendance shall be facilitated to ensure meetings run smoothly, in compliance with the best corporate governance practices.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>AGENDA</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 28</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The meeting agenda shall be proposed by the Committee Chair, based on the annual work plan. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Sole paragraph</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Chair shall include in the agenda items or issues proposed by the other Committee Members or the Board provided that such items and issues are within the Committee&#8217;s competence.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>MEETING MINUTES AND RESOLUTIONS</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 29</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Minutes containing the date; location; names of Committee Members in attendance, speaker(s) and/or invitee(s); issues presented and discussed; resolved and unresolved issues shall be drafted for each meeting.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Paragraph 1</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; Resolutions shall be approved by majority vote of the attendees. In the event of a tie, the Chair shall cast the deciding vote.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Paragraph 2</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The dissenting Member shall express his or her dissenting opinion in the meeting minutes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt; TEXT-INDENT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Paragraph 3</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The minutes shall be signed by all Members.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Paragraph 4</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; Members absent at the meeting shall be made aware of the contents of the respective minutes, which he or she shall sign to acknowledge that he or she is aware of the issues addressed and resolutions approved at the meeting. Such signature shall not imply that the Member agrees with the resolutions contained in the meetings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Paragraph 5</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Specific excerpts containing the issues addressed at the meeting shall be taken from the minutes and signed by the Company&#8217;s representatives who raised such issues.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Chapter VI &#8211; DUTIES AND RESPONSIBILITIES</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Within the scope of its competence, the Committee shall have the following duties and responsibilities.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>RISK MANAGEMENT AND INTERNAL CONTROLS</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 30</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Regarding risk management, the Committee shall have the responsibilities and competences assigned by the Institutional Corporate Risk Management Policy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 31 - </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Concerning internal controls, the Committee shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; Gain an understanding of the environment, processes and internal control systems implemented by the Board of Executive Officers to approve transactions, as well as the system to record and process data material to the Company&#8217;s business.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II -</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> Monitor the controls implemented by the Board of Executive Officers to ensure that the financial statements come from the corresponding systems, comply with the legal, regulatory and bylaw requirements and rules, and are properly reviewed by the Board of Executive Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>III</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Analyze the information provided by the Board of Executive Officers concerning the efficiency of the internal controls, as well as examine whether the recommendations made by the Internal Auditors and Independent Auditors have been properly implemented by the Board of Executive Officers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>IV</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; Monitor the controls implemented by the Board of Executive Officers to ensure the physical and logical security of the electronic information systems, as well as the contingency plans to process the information relevant to the Company&#8217;s business, in the event of a system failure or for protection against fraud or improper use of Company equipment.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>FINANCIAL STATEMENTS</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 32 &#8211; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Concerning the financial statements, the Committee will:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Monitor financial reporting, in compliance with the applicable legislation and the best corporate governance practices. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Review the periodical financial statements and announcements to the market related thereto before disclosure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>III</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Review relevant accounting issues, including recent professional and regulatory pronouncements, as well as gain an understanding of their impacts on the financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>IV</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Recommend changes to improve the materiality, integrity, quality and timeliness of the financial statements.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm" align=center><FONT color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif>Approved at the 823<SUP>th</SUP> Meeting of the Board of Directors &#8211; 14.04.2016</FONT></FONT><FONT color=black face=verdana,sans-serif></FONT></P></TD>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>V</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Meet with the Chief Financial Officer and Investor Relations Officer and/or the designated persons, as well as with the Independent Auditors, to review the financial statements, the main accounting policies and judgments and the Independent Auditors&#8217; reports.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>VI</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Ensure that significant adjustments, pending differences and disagreements with the Board of Executive Officers with regard to accounting practices and policies are discussed with the Independent Auditors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>VII</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Analyze the other sections of the annual management reports, including the 20-F Form, before they are published/filed.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>VIII</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Monitor the Accounting Department&#8217;s activities, resources and organizational structure to ensure it works properly and has the adequate material resources.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>COMPLIANCE WITH LAWS AND REGULATIONS</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 33</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - To verify compliance with the laws and regulations applicable to the matters relevant to its competence, the Committee shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Review the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>effectiveness of the supervisory system concerning the compliance </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>with laws and regulations, as well as the results of internal investigations about possible irregularities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Obtain regular updates from the Board of Executive Officers and Company lawyers about issues that may significantly impact the financial statements or compliance policies;</FONT></P>

<P style="MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>III</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Make sure that regulatory issues relevant to the Company&#8217;s industry have been considered in preparing the financial statements and of the annual management reports, including the 20-F Form.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>IV</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Review the results of any compliance inspections by regulatory authorities, as well as the Board of Executive Officers&#8217; replies.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>INDEPENDENT AUDIT</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 34</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Regarding Independent Auditors, the Committee shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Approve the bidding requirements for hiring Independent Auditors, mainly with respect to auditors&#8217; professional qualifications to ensure they include the background and experience of the partner responsible for the audit team, the independence requirement and any possible conflicts of interest;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; Evaluate Independent Auditors&#8217; performance on a continuous basis;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>III</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Express its opinion on the possibility of hiring non-audit services from the independent audit firm in effect or any companies related thereto;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>IV</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Examine the scope of the audit work plan proposed by the Independent Auditors and review it in the current year in light of the Company&#8217;s ongoing circumstances, regulatory requirements and changes, among other measures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>V</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Discuss the Independent Auditors&#8217; work plan and gain an understanding of risk assessment proposals;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>VI</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Discuss with the Independent Auditors any problems found within the normal course of an audit, including any restrictions on the scope of the audit or access to information;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>VII</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Ensure the relevant discoveries, recommendations from independent auditors and replies suggested by the Board of Executive Officers are received, discussed and appropriately implemented;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>VIII</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Discuss with the independent auditors the adequacy of the accounting policies applied to the Company&#8217;s financial statements to determine whether they are considered aggressive, balanced or conservative;</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>IX</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Meet separately with the Independent Auditors to discuss matters the Committee or the Independent Auditors may deem necessary; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>X</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Ensure the Independent Auditors have access to the Committee whenever requested.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>XI</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Ensure the Company has proper policies in place should it decide to hire professionals from an Independent Audit firm for senior management positions.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>INTERNAL AUDIT</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 35</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Regarding Internal Audit, the Committee shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Review the Internal Audit department&#8217;s activities, resources and organizational structure to ensure it works properly and has the adequate material resources.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Ensure that the relevant recommendations made by Internal Auditors and the replies suggested by the Board of Executive Officers are received, discussed and implemented properly.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>III</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Review and approve Internal Audit&#8217;s Work Plan for the subsequent fiscal year based on risk management processes and compliance with the rules and controls in place, thus making sure it is in keeping with the work of the Independent Auditors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>IV</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Discuss with the Internal Auditors the result of recent inspections conducted by the regulatory bodies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>V &#8211; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Assess and monitor jointly with Management and the Internal Auditors whether the Company&#8217;s related-party transactions are suitable and reasoned.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>REPORTING TO THE BOARD OF DIRECTORS</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 36</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; Concerning the Board of Directors, the Committee shall:</FONT></P>

<P style="MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Keep the Board of Directors the up-to-date on the Committee&#8217;s activities, particularly with regard to issues that may cause a significant impact on the Company&#8217;s financial condition or business;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Prepare Detailed and Summary Reports of its activities, as well as any other reports required by law and/or requested by the Board;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>III</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Express an opinion on all periodical financial statements and on the annual reports, pursuant to the applicable legislation;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>IV - </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Provide the Board with information regarding the Independent Auditors&#8217; independence and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>V</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Recommend that the Board:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>(a) Hire Independent Auditors; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>(b) Dismiss the incumbent Independent Auditors with justification.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>PERFORMANCE EVALUATION</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 37</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Regarding its performance evaluation, the Committee shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Evaluate its performance on a regular basis and share the evaluation with the Board, and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Assess compliance with the duties set out in the Charter and report the findings to the Board.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 7.1pt 12pt 0cm" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>CHARTER</FONT></U></B></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm" align=center><FONT color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif>Approved at the 823<SUP>th</SUP> Meeting of the Board of Directors &#8211; 14.04.2016</FONT></FONT><FONT color=black face=verdana,sans-serif></FONT></P></TD>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 38</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> &#8211; Concerning its Charter, the Committee shall:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Ensure the Charter is approved by the Board and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - Revise the Charter whenever needed and submit it to the Board for approval.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt 15.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 12pt; LINE-HEIGHT: 17pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Chapter VII &#8211; COMPENSATION AND BUDGET</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 39</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> - The Committee Members&#8217; compensation shall be different from that of the other Board Members since they have greater responsibility and dedicate more time to the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 12pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>Article 40 -</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif> The Committee&#8217;s annual budget shall be approved by the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 7.05pt 0pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif>Sole paragraph</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif> - &nbsp;The Board of Executive Officers shall immediately provide the funds to the Committee &nbsp;up to the limit of the approved budget.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>This is the fourth restatement of Audit Committee Charter. It was approved at the 823<SUP>th</SUP> Meeting of the Board of Directors, held on April 14,2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=verdana,sans-serif>All provisions to the contrary contained in the Audit Committee Charter approved at the 713<SUP>th</SUP> Meeting of the Board of Directors, held on February 11, 2010, are hereby repealed.</FONT></P></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm" align=center><FONT color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=verdana,sans-serif>Approved at the 823<SUP>th</SUP> Meeting of the Board of Directors &#8211; 14.04.2016</FONT></FONT><FONT color=black face=verdana,sans-serif></FONT></P></TD>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=verdana,sans-serif><FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>&nbsp;</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>audit committee </FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-TRANSFORM: uppercase" face=verdana,sans-serif>CHARTER &#8211; V4</FONT></FONT></P>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>SIGNATURE&nbsp;</U></B></FONT><FONT size=1>&nbsp;</FONT></DIV></U></B></FONT>

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<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city S&#227;o Paulo, Brazil. <BR></FONT></DIV>

<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;April 19, 2016</FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV></TD></TR>

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   <TD vAlign=top align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></TD>

   <TD vAlign=bottom align=left>/s/&nbsp;&nbsp;<FONT style="FONT-FAMILY: times new roman" size=3>Rui de Britto &#193;lvares Affonso</FONT>&nbsp;&nbsp;&nbsp;&nbsp;

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Name: Rui de Britto &#193;lvares Affonso </FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Title: Chief Financial Officer and Investor Relations Officer </FONT></DIV></TD>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P align=justify><FONT size=2 face="'Times New Roman, Times, Serif'">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>

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